[Guangdong Zinc: Futures Market Fluctuates with a Slight Uptrend, Spot Premiums/Discounts Maintain Fluctuating Trend] The mainstream transactions of 0# zinc in Guangdong ranged from 21,990 to 22,130 yuan/mt. The mainstream brands were quoted at a discount of 40 yuan/mt against the 2509 contract and at a discount of 80 yuan/mt against spot aluminum in Shanghai. The Shanghai-Guangdong price spread maintained......

[Shanghai Zinc: Futures Market Maintains Fluctuating Trend, Premiums Decline Slightly]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,090-22,200 yuan/mt, with Shuangyan zinc trading at 22,170-22,300 yuan/mt, and 1# zinc trading at 22,020-22,130 yuan/mt. In the morning session, the market offered premiums of 10-30 yuan/mt against the SMM average price, and there were hardly any offers against the futures market...

[Ningbo Zinc: Some Traders Dumped Goods at Low Prices, Premium Rebounded] The mainstream brand 0# zinc in the Ningbo market traded at around 22,080-22,170 yuan/mt. The premium of conventional brands in Ningbo was quoted at 20 yuan/mt against the 2508 contract, on par with the spot cargo in Shanghai. Mainstream offers in Ningbo were mainly quoted against the 2508 contract...

[Tianjin Zinc: Futures Market Fluctuates, Downstream Demand Weak] In the Tianjin market, the mainstream transaction price of #0 zinc ingot ranged from 22,030 to 22,150 yuan/mt, with Zijin trading at 22,050 to 22,170 yuan/mt. The transaction price of #1 zinc ingot was around 21,930 to 22,040 yuan/mt, while Huludao reported a price of 23,060 yuan/mt. The ordinary #0 zinc ingot was quoted at a discount of 0 to 20 yuan/mt against the 2508 contract, and Zijin was quoted at a premium of 0 to 20 yuan/mt against the 2508 contract. The Tianjin market was quoted at a discount of around 40 yuan/mt compared to the Shanghai market.

Futures market: Overnight, LME copper opened at $9,610/mt, fluctuating rangebound in early trading before hitting a low of $9,588/mt.

[SMM Morning Comment on Zinc] Overnight, the most-traded SHFE zinc 2508 contract opened at 21,975 yuan/mt. After opening, SHFE zinc touched a low of 21,970 yuan/mt, then rapidly rose. However, as bulls reduced their positions, SHFE zinc continued to decline below the daily average line. Subsequently, as bears reduced their positions, SHFE zinc rose again, touching a high of 22,120 yuan/mt. It finally closed up at 22,100 yuan/mt, rising by 55 yuan/mt or 0.25%. Trading volume decreased to 37,483 lots, and open interest decreased by 5,592 lots to 72,719 lots...

[SMM Morning Meeting Summary: Market Rumors Trump to Fire Powell, LME Zinc Records Four-Day Winning Streak] Overnight, LME zinc opened at $2,702/mt. Subsequently, LME zinc briefly oscillated around the daily average line, before longs reduced their positions and LME zinc continuously declined below the daily average line. During this period, LME zinc attempted to rise above the daily average line but was ultimately blocked and pulled back, reaching a low of $2,676/mt. Entering the night session, LME zinc rapidly rose, touching a high of $2,715/mt. It then dropped back slightly at the end of the session, closing down at $2,699.5/mt, a decrease of $2/mt or 0.07%. Trading volume decreased to 87,937 lots, while open interest fell by 7,174 lots to 187,000 lots...

[The market still expects an increase in domestic and overseas supply. Attention can be paid to the performance of the US PPI data in the evening.] The most-traded SHFE zinc 2508 contract opened at 22,030 yuan/mt. After the opening, longs and shorts engaged in fierce competition, and SHFE zinc maintained a fluctuating trend, eventually closing down at 22,045 yuan/mt, down by 40 yuan/mt or 0.18%. Trading volume decreased to 89,469 lots, and open interest decreased by 5,993 lots to 78,311 lots.....

[Guangdong Zinc: Contract rollover in Guangdong today, spot premiums/discounts continue to decline] The mainstream transaction price of 0# zinc in Guangdong ranged from 21,910 to 22,030 yuan/mt. The mainstream brands were quoted at a discount of 45 yuan/mt against the 2509 contract and at a discount of 80 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread widened......

[Tianjin Zinc: Futures Pull Back, Weak Downstream Restocking Sentiment] In the Tianjin market, the mainstream transaction price of #0 zinc ingot ranged from 21,970 to 22,060 yuan/mt, with Zijin trading between 22,000 and 22,090 yuan/mt. The transaction price of #1 zinc ingot was around 21,870 to 21,950 yuan/mt, while Huludao reported a price of 23,000 yuan/mt. The ordinary #0 zinc ingot was quoted at a discount of 0 to 20 yuan/mt against the 2508 contract, with Zijin quoted at a premium of 10 to 30 yuan/mt against the 2508 contract. Tianjin was quoted at a discount of around 50 yuan/mt compared to Shanghai.