[How will the price of low-grade zinc oxide perform in H2 after a fall and then a rise in its coefficient in the first half of 2025?] In H1, the price of low-grade zinc oxide fell slightly in Q1 and then rose consecutively in Q2. With the increasing market demand for secondary zinc, how will the price of low-grade zinc oxide perform in H2?

[Guangdong Zinc: Futures Market Center Moves Upward, Market Trading Sluggish] The mainstream transactions of 0# zinc in Guangdong ranged from 22,275 to 22,450 yuan/mt. Mainstream brands were quoted at a premium of 20 to 60 yuan/mt against the 2508 contract, and at a discount of 60 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened......

[Shanghai Zinc: Reluctance to Budge on Prices Persists, Trading Activity Sluggish]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,425-22,590 yuan/mt, with Shuangyan zinc trading at 22,475-22,620 yuan/mt, and 1# zinc trading mainly at 22,355-22,520 yuan/mt. In the morning session, the market offered a premium of 70-90 yuan/mt against the SMM average price, with fewer offers against the futures price...

[Ningbo Zinc: Traders Adopt Passive Quoting Approach with Premiums Adjusting Downward] The mainstream 0# zinc transaction price in the Ningbo market ranged around 22,345-22,480 yuan/mt. Conventional brands in Ningbo quoted a premium of 100 yuan/mt against the 2508 contract and a discount of 10 yuan/mt against Shanghai spot cargo. Mainstream offers in the Ningbo region were primarily made against the 2508 contract...

[Tianjin Zinc: Futures Market Rises, Premiums Stabilize] In the Tianjin market, the mainstream transaction price for #0 zinc ingot was between 22,270 and 22,470 yuan/mt, with Zijin trading between 22,330 and 22,480 yuan/mt. The transaction price for #1 zinc ingot was around 22,180 to 22,340 yuan/mt, while Huludao reported a price of 25,790 yuan/mt. The premium for ordinary #0 zinc against the 2507 contract was around 0 to 20 yuan/mt, with Zijin reporting a premium of around 30 yuan/mt against the 2507 contract. The Tianjin market was trading at a discount of around 100 yuan/mt compared to the Shanghai market.

[SMM Morning Comment on Zinc: SHFE Zinc Opens Higher with a Gap Driven by LME] Overnight, the most-traded SHFE zinc 2508 contract opened at 22,320 yuan/mt. Early in the session, SHFE zinc dipped to 22,285 yuan/mt, then gradually fluctuated upward, reaching a high of 22,400 yuan/mt before maintaining a fluctuating trend above the daily average line. It eventually closed up at 22,375 yuan/mt, rising by 145 yuan/mt or 0.65%. Trading volume decreased to 57,402 lots, while open interest increased by 180 lots to 130,000 lots...

[SMM Zinc Morning Meeting Summary: US ADP employment data unexpectedly cools, LME zinc center rebounds]: Overnight, LME zinc opened at $2,742.5/mt. Early in the session, LME zinc reached a high of $2,749/mt, then quickly declined to oscillate below the daily average line. After another failed attempt to rally, it pulled back near the daily average line. Near the end of the session, LME zinc slipped again, touching a low of $2,708/mt, and finally closed down at $2,713.5/mt, a decline of $27.5/mt or 1%. Trading volume increased to 12,773 lots, and open interest rose by 842 lots to 208,000 lots...

[SHFE zinc maintains fluctuating trend, with focus on zinc ingot inventory buildup]: The most-traded SHFE zinc 2508 contract opened at 22,160 yuan/mt. In the early session, SHFE zinc dipped to 22,145 yuan/mt, then fluctuated upward above the daily average line. Near the end of the session, SHFE zinc hit a high of 22,280 yuan/mt, closing up at 22,230 yuan/mt, up 55 yuan/mt or 0.25%. Trading volume increased to 72,290 lots, while open interest decreased by 4,835 lots to 130,000 lots...