Shanghai Zinc: Downstream Purchase Not Active, Transaction Volume Turned Worse MoM [SMM Midday Review]

SMM News on June 20: Today, the 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 trading mainly at 21,925-22,040 yuan/mt. In the morning session, the market quoted spot premiums of -10~0 yuan/mt against the average price, with no quotes against the futures market. In the second trading session, ordinary domestic zinc was quoted at premiums of 130 yuan/mt against the 2507 contract, Baiyin zinc at premiums of 150 yuan/mt against the 2507 contract, Spanish zinc at premiums of 90~100 yuan/mt against the 2507 contract, and the high-priced Shuangyan brand was quoted at premiums of 330 yuan/mt against the 2507 contract. Today, the futures market fluctuated, but downstream buyers exhibited a strong wait-and-see sentiment after purchasing yesterday, leading to a MoM decline in spot transactions. Market traders faced difficulties in selling, and domestic spot premiums continued to fall.