[Guangdong Zinc: Weak Downstream Consumption Drives Spot Premiums Lower] Mainstream 0# zinc in Guangdong was traded at 21,910-22,065 yuan/mt. Mainstream brands were quoted at a spot premium of 220 yuan/mt against the 2508 contract, and at a spot discount of 30 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened...

[Tianjin Zinc: Weak Demand, Premiums Continue to Decline] In the Tianjin market, mainstream transactions for #0 zinc ingots were concluded at 21,920-22,130 yuan/mt, with Zijin transactions at 22,010-22,140 yuan/mt. #1 zinc ingots were traded around 21,740-21,870 yuan/mt, while Huludao reported prices at 25,390 yuan/mt. Regular #0 zinc ingots were quoted at a premium of 60-150 yuan/mt against the 2507 contract, with Zijin quoted at a premium of 150-160 yuan/mt against the 2507 contract. Tianjin prices were quoted at a discount of around 10 yuan/mt compared to Shanghai prices.

[Ningbo Zinc: Traders Actively Selling, Premiums Continue to Decline] The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,015-22,130 yuan/mt. The premium for mainstream brands in Ningbo against the 2507 contract was 145 yuan/mt, and the premium against Shanghai spot cargo was 30 yuan/mt. Mainstream quotes in the Ningbo region were against the 2507 contract...

[Shanghai Zinc: Sluggish Purchase Activity in Downstream, Transaction Volume Turned Worse MoM]: Today, mainstream transaction prices for 0# zinc were concentrated in the range of 21,995-22,110 yuan/mt, with Shuangyan zinc trading at 22,195-22,310 yuan/mt, and 1# zinc mainly trading at 21,925-22,040 yuan/mt. In the morning session, the market offered a premium of -10~0 yuan/mt against the average price, with no quotes against the futures market...

Overnight, LME copper opened at $9,619.5/mt, hitting an intraday high of $9,635.5/mt shortly after the opening bell.

On Thursday (June 19) during the early trading session of the US stock market, US President Trump posted that he believed the US Fed should have cut interest rates by 250 basis points in its decision the previous day.

[SMM Zinc Morning Comment] Overnight, LME zinc opened at $2,636/mt. Early in the session, LME zinc continued to decline below the daily average line, hitting a low of $2,631/mt during European trading hours. Subsequently, as bears reduced their positions, LME zinc fluctuated upward above the daily average line, reaching a high of $2,647.5/mt at the end of the session. It eventually closed up at $2,646.5/mt, up $3/mt, or 0.11%. Trading volume decreased to 59,743 lots, while open interest fell by 1,497 lots to 206,000 lots...

[SMM Morning Meeting Summary: Strong Risk-Aversion Sentiment in the Market, LME Zinc Records a Bald Bullish Candlestick] Overnight, LME zinc opened at $2,636/mt. Early in the session, LME zinc continuously declined below the daily average line, hitting a low of $2,631/mt during European trading hours. Subsequently, as bears reduced their positions, LME zinc fluctuated upward to above the daily average line, reaching a high of $2,647.5/mt at the end of the session. It finally closed up at $2,646.5/mt, gaining $3/mt, or 0.11%. Trading volume decreased to 59,743 lots, while open interest fell by 1,497 lots to 206,000 lots...

[Domestic Inventory Records Increase, SHFE Zinc Price Center Moves Down]: The most-traded SHFE zinc 2508 contract opened at 21,765 yuan/mt. At the beginning of the trading session, bears increased their positions, causing SHFE zinc to dive downwards. It later touched a low of 21,600 yuan/mt near the end of the session, eventually closing down at 21,680 yuan/mt, a drop of 130 yuan/mt or 0.06%. Trading volume increased to 84,227 lots, and open interest rose by 5,961 lots to 104,000 lots.

[Increasing Supply Coupled with Decreasing Demand Leads to Continuous Rise in Zinc Ingot Inventory Across Seven Regions] According to communication with SMM, as of Monday (June 19), the total zinc ingot inventory across seven regions tracked by SMM reached 79,600 mt, up 2,500 mt from June 12 and up 1,500 mt from June 16, with domestic inventory recording an increase...