[Guangdong Zinc: Futures Market Continues to Rise, Market Transactions Sluggish] The mainstream transactions of 0# zinc in Guangdong were at 22,195-22,335 yuan/mt. Mainstream brands were quoted at a premium of 125-165 yuan/mt against the 2508 contract, and at a spot discount of 40 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread narrowed...

[Tianjin Zinc: Futures Market High, Premiums Continue to Decline] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,180-22,310 yuan/mt, with Zijin transactions at 22,200-22,340 yuan/mt. #1 zinc ingot transactions were concluded around 22,060-22,170 yuan/mt, while Huludao reported prices at 25,620 yuan/mt. The ordinary #0 zinc reported premiums of 0-40 yuan/mt against the 2507 contract, with Zijin reporting premiums of 20-60 yuan/mt against the 2507 contract. Tianjin reported discounts of around 70 yuan/mt compared to Shanghai.

[Ningbo Zinc: Traders adopt a laid-back approach to shipping, with poor transaction performance] The transaction price of mainstream brand 0# zinc in the Ningbo market is around 22,280-22,370 yuan/mt. The premium for mainstream brands in Ningbo against the 2507 contract is 85 yuan/mt, and the premium against Shanghai spot cargo is 10 yuan/mt. Mainstream traders in the Ningbo region are quoting against the 2507 contract...

[Shanghai Zinc: Entering New Long-Term Contract Cycle, Premiums Continue to Weaken] The mainstream transaction prices of 0# zinc were concentrated at 22,290-22,390 yuan/mt, with Shuangyan traded at 22,380-22,530 yuan/mt, and 1# zinc mainstream transactions at 22,220-22,320 yuan/mt. In the morning session, the market quoted premiums of 40-50 yuan/mt against the average price, with no against-contract quotes....

Overnight, LME copper opened at $9,692.5/mt, reaching a high of $9,738.0/mt and a low of $9,684/mt, before closing at $9,727.0/mt, up 0.65%. Trading volume reached 14,874 lots, with open interest at 286,436 lots.

[SMM Morning Comment on Zinc] Overnight, the most-traded SHFE zinc 2508 contract opened at 22,090 yuan/mt. In the early session, SHFE zinc prices declined slightly, reaching a low of 22,030 yuan/mt. Subsequently, bulls increased their positions, and SHFE zinc prices fluctuated along the daily average line, touching a high of 22,100 yuan/mt. SHFE zinc prices fluctuated considerably, with fluctuations of less than 100 yuan. The contract eventually closed higher at 22,095 yuan/mt, up 50 yuan/mt or 0.23%. Trading volume decreased to 47,542 lots, while open interest increased by 98 lots to 130,000 lots.

[SMM Morning Meeting Summary: Middle East Situation Eases, Market Risk Aversion Sentiment Alleviates, LME Zinc Rises] Overnight, LME zinc opened at $2,687.5/mt. Initially, LME zinc briefly dipped to a low of $2,685.5/mt. Subsequently, bears reduced their positions, and LME zinc fluctuated upward throughout the night session, reaching a high of $2,722/mt. However, the upward momentum weakened, and the center of LME zinc prices shifted downward. It eventually closed up at $2,710/mt, gaining $29.5/mt from the previous close, with a 1.10% increase. Trading volume decreased to 11,290 lots, and open interest fell by 623 lots to 212,000 lots.

[Fundamentals Remain Unchanged; Tomorrow's Inventory Data Could Be Monitored] The most-traded SHFE zinc 2508 contract opened at 21,915 yuan/mt. At the beginning of the session, bulls increased their positions, and SHFE zinc fluctuated upward to above the daily average line. Near the end of the session, it reached a high of 22,095 yuan/mt, eventually closing up at 22,045 yuan/mt, up 125 yuan/mt or 0.57%. Trading volume decreased to 159,000 lots, while open interest increased by 8,395 lots to 130,000 lots.....

[Guangdong Zinc: Widening Price Spread Between Futures Contracts, Spot Premiums Unchanged from Yesterday] The mainstream transaction price of 0# zinc in Guangdong ranged from 22,090 to 22,185 yuan/mt. Mainstream brands were quoted at a premium of 180 to 210 yuan/mt against the 2508 contract, and at a discount of 70 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened...

[Tianjin Zinc: Low Purchase Willingness in Downstream, Premium Continues to Decline] In the Tianjin market, the mainstream transaction price for #0 zinc ingot was 22,060-22,180 yuan/mt, with Zijin trading at 22,120-22,220 yuan/mt, and #1 zinc ingot trading around 21,940-22,030 yuan/mt. Huludao reported a price of 25,560 yuan/mt. The premium for ordinary #0 zinc against the 2507 contract was reported around 30-40 yuan/mt, while Zijin reported a premium of around 60-80 yuan/mt against the 2507 contract. The Tianjin market reported a discount of around 60 yuan/mt compared to the Shanghai market.