Shanghai Zinc: Trading improved, spot premiums held steady [SMM Midday Review]

SMM reported on July 15: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,120 to 22,225 yuan/mt, with Shuangyan zinc trading between 22,200 and 22,285 yuan/mt, and 1# zinc trading between 22,050 and 22,155 yuan/mt. In the morning session, the market quoted premiums of 10 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 50 to 60 yuan/mt against the 2508 contract, Honglu-V was quoted at a premium of 70 yuan/mt against the 2508 contract, Huize was quoted at a premium of 80 yuan/mt against the 2508 contract, and the premium for the high-end brand Shuangyan was quoted at 130 yuan/mt against the 2508 contract. Today, traders in the market continued to actively sell, with zinc prices pulling back on the futures market in the morning. Some downstream buyers took advantage of this to place orders and purchase, with some traders reporting improved spot cargo transactions, supporting the steady operation of spot premiums.