[SMM Zinc Morning Comment] Overnight, LME zinc opened at $2,654.5/mt. Early in the session, LME zinc prices continuously declined below the daily average line, then rapidly rose to a high of $2,662.5/mt during European trading hours. Subsequently, LME zinc prices quickly pulled back, fluctuating considerably along the daily average line during the night session. Towards the end of the session, LME zinc prices slightly declined, closing at $2,636.5/mt, down $23.5/mt or 0.88%. Trading volume decreased to 90,506 lots, while open interest fell by 394 lots to 211,000 lots...

[SMM Morning Meeting Summary: Mixed Data Performance, LME Zinc Records a Bearish Candlestick] Overnight, LME zinc opened at $2,654.5/mt, and continuously declined below the daily average line in the early session...

SMM Analysis：As Q2 draws to a close, SMM has learned that the operating rate of domestic galvanized sheet production in May declined by 1.1% MoM. With the arrival of the off-season, what are the market expectations for June? Can the relevant operating rates be sustained.....

[SMM Analysis: "How is the performance of galvanized sheet in June amid the ongoing digestion of 'rush to export' orders?"] As Q2 draws to a close, SMM has learned that the operating rate of domestic galvanized sheet production declined by 1.1% MoM in May. With the arrival of the off-season, how is the market expecting June to perform? Can the relevant operating rates be sustained?...

[Tianjin Zinc: Premiums Decline, Trading Activity Moderate] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 21,940-22,170 yuan/mt, with Zijin transactions at 22,030-22,180 yuan/mt. Transactions for #1 zinc ingot were around 21,640-21,790 yuan/mt, while Huludao reported prices at 25,370 yuan/mt. The premium for ordinary #0 zinc against the 2507 contract was around 180-270 yuan/mt, and the premium for Zijin against the 2507 contract was around 250-290 yuan/mt. Tianjin prices were reported to be approximately 20 yuan/mt higher than those in Shanghai.

[Guangdong Zinc: Contract rollover in Guangdong today, downstream demand shows average performance] The mainstream transactions of 0# zinc in Guangdong ranged from 21,950 to 22,115 yuan/mt. Mainstream brands were quoted at a premium of 400 yuan/mt against the 2508 contract and at a premium of 10 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread remained...

[Ningbo Zinc: Impact of Low-Priced Imports Leads to Further Decline in Premium] The transaction price of mainstream brand 0# zinc in the Ningbo market ranges from approximately 21,980 to 22,105 yuan/mt. The premium for mainstream brands in Ningbo against the 2507 contract is 200 yuan/mt, and the premium against Shanghai spot cargo is 20 yuan/mt. Mainstream players in the Ningbo region are quoting prices against the 2507 contract...

[Shanghai Zinc: Futures Market Rises Slightly, Downstream Players Adopt Wait-and-See Attitude Again]: Today, mainstream transaction prices for 0# zinc were concentrated in the range of 21,940-22,105 yuan/mt, with Shuangyan zinc trading at 22,060-22,235 yuan/mt, and mainstream transaction prices for 1# zinc at 21,870-22,035 yuan/mt. In the morning session, the market offered a premium of 0-20 yuan/mt against the average price, with no quotes against futures prices.....

Overnight, LME copper opened at $9,678.5/mt, touching a low of $9,664/mt shortly after the opening bell.