Shanghai Zinc: Futures market continues to strengthen, premium drops significantly [SMM Midday Review]

SMM June 27 Report: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,520 to 22,695 yuan/mt, with Shuangyan zinc trading between 22,650 and 22,865 yuan/mt, and 1# zinc trading between 22,450 and 22,625 yuan/mt. In the morning session, the market was quoted at premiums of 0 to 30 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 40 yuan/mt against the 2507 contract, silver at premiums of 90 yuan/mt against the 2507 contract, Huize at premiums of 170 yuan/mt against the 2507 contract, and the high-priced brand Shuangyan was quoted at premiums of 220 yuan/mt against the 2507 contract. The futures market continued to hold up well. Today, premiums in the Shanghai market continued to decline, but the rise in the futures market dampened downstream buying sentiment. Downstream purchases remained driven by immediate needs, and spot trades were sluggish.