Shanghai Zinc: Market continues to be bearish, with limited improvement in transactions [SMM Midday Review]

SMM June 30th News: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,470 to 22,580 yuan/mt, with Shuangyan zinc trading between 22,620 and 22,720 yuan/mt, and 1# zinc trading between 22,400 and 22,510 yuan/mt. In the morning session, the market quoted premiums of 0 to 30 yuan/mt against the average price, with no quotes against the futures market. During the second trading session, quotations for ordinary domestic zinc were at premiums of 50 to 60 yuan/mt against the 2507 contract, Honglu-v was quoted at a premium of 70 yuan/mt against the 2507 contract, Huize was quoted at a premium of 180 yuan/mt against the 2507 contract, and the high-priced brand Shuangyan was quoted at a premium of 200 yuan/mt against the 2507 contract. Although the futures market declined in the morning session, downstream buyers continued to be bearish on zinc prices and premiums. Today, the enthusiasm for purchasing remained low. Spot cargo transactions in the market improved slightly but the extent was limited. To facilitate sales, traders continued to lower their spot premium quotations.