Shanghai Zinc: Futures market fluctuates, while Shanghai premium remains stable [SMM Midday Review]

SMM News on June 25: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,205-22,295 yuan/mt, with Shuangyan zinc trading at 22,345-22,425 yuan/mt, and 1# zinc trading mainly at 22,135-22,225 yuan/mt. In the morning session, the market quoted spot premiums of 40-50 yuan/mt against the average price, with no quotes against the futures market. In the second trading session, the quotes for ordinary domestic zinc were at premiums of 140-150 yuan/mt against the 2507 contract, silver was quoted at a premium of 140 yuan/mt against the 2507 contract, Xinzi was quoted at a premium of 80 yuan/mt against the 2507 contract, and the high-end brand Shuangyan was quoted at a premium of 280 yuan/mt against the 2507 contract. Today, the supply in the Shanghai market remained limited, and domestic traders continued to refuse to budge on prices. Spot premium quotes held steady today, but the futures market maintained a relatively high level of volatility. Downstream buyers showed little interest in purchasing, and spot purchase performance was poor. Today's transactions were still mainly among traders.