Shanghai Zinc: Many traders are shipping goods, and the premium continues to fall [SMM Midday Review]

SMM News on July 11: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,380 to 22,540 yuan/mt, with Shuangyan zinc trading between 22,510 and 22,620 yuan/mt, and 1# zinc trading between 22,310 and 22,470 yuan/mt. In the morning session, the market quoted premiums of 20 to 30 yuan/mt against the SMM average price, with fewer quotes against the futures market. During the second trading session, the quotes for ordinary domestic zinc were at premiums of 30 to 80 yuan/mt against the 2508 contract, Honglu-V at a premium of 90 yuan/mt against the 2508 contract, Huize at a premium of 80 yuan/mt against the 2508 contract, and the premium for the high-priced brand Shuangyan was at 160 yuan/mt against the 2508 contract. Qilin zinc ingots arrived in the Shanghai market, and there were many traders selling goods at the end of the week. However, with the futures market remaining at a high level, downstream enterprises were hesitant to purchase due to the high prices, resulting in low purchase willingness. As a result, spot premiums continued to decline amid poor transactions, and overall trading activity was moderate.