Shanghai Zinc: Premiums Continue to Weaken, Trading Performance Remains Average [SMM Midday Review]

SMM News on June 18: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,030 to 22,290 yuan/mt, with Shuangyan zinc trading at 22,180 to 22,460 yuan/mt, and 1# zinc trading mainly at 21,960 to 22,220 yuan/mt. In the morning session, the market was quoted at premiums of -10 to 10 yuan/mt against the average price, with fewer quotes against the futures market. During the second trading session, quotations for ordinary domestic zinc were at premiums of 150 to 170 yuan/mt against the 2507 contract, while Baiyin zinc was quoted at a premium of 200 yuan/mt against the 2507 contract, and Spanish zinc was quoted at premiums of 90 to 100 yuan/mt against the 2507 contract. The premium for the high-end brand Shuangyan zinc was quoted at 300 to 330 yuan/mt against the 2507 contract. The futures market edged slightly higher compared to yesterday, with downstream buyers maintaining a strong wait-and-see sentiment. Spot cargo transactions in the morning market were sluggish, and traders continued to lower their premium quotes for both domestic and imported zinc. However, enterprises maintained their rigid demand, resulting in an overall average trading performance.