Shanghai Zinc: Futures market shows obvious decline, trading volume improves somewhat [SMM Midday Review]

SMM reported on July 1: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,300-22,520 yuan/mt, with Shuangyan zinc trading at 22,400-22,620 yuan/mt and 1# zinc trading at 22,230-22,450 yuan/mt. In the morning session, the market was quoted at premiums of 10-30 yuan/mt against the SMM average price, with no quotes against the futures market. During the second trading session, ordinary domestic zinc was quoted at premiums of 100 yuan/mt against the 2507 contract, Honglu-v at premiums of 80 yuan/mt against the 2507 contract, Spanish zinc at parity against the 2507 contract, Huize at premiums of 130 yuan/mt against the 2507 contract, and high-end brand Shuangyan at premiums of 180-200 yuan/mt against the 2507 contract. In the morning, the futures market declined significantly, prompting some downstream buyers to purchase at lower prices. Spot cargo transactions improved, and traders increased their purchases in the morning. Premiums for domestic spot cargo rose, while other quotes remained basically stable, with some divergence in market premiums.