Spot transactions were weak during the week, with premiums declining all the way [SMM Shanghai Spot Weekly Review]

SMM, June 20: Spot premiums in the Shanghai region have been declining throughout this week, with a WoW decrease of 110 yuan/mt against the weekly average price. As of Friday this week, the premium for common domestic brands against the 2507 contract was 130 yuan/mt, while the premium for the high-end brand Shuangyan against the 2507 contract was 330 yuan/mt. The premium for Spanish zinc ingot against the 2507 contract ranged from 90 to 100 yuan/mt. The futures market fluctuated during the week. Although some enterprises purchased spot cargoes at low prices mid-week, overall spot trading performance remained weak this week due to off-season consumption. Additionally, with the continuous inflow of imported zinc ingot from Spain and other countries, some downstream enterprises preferred to purchase low-priced imports. As a result, domestic traders in the market faced difficulties in selling their cargoes, and spot premiums in Shanghai continued to decline this week. It is expected that premiums will continue to weaken next week.

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