Shanghai Zinc: Downstream Continues to Be Bearish, Trading Performance is Ordinary [SMM Midday Review]

SMM reported on July 16: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,035 to 22,135 yuan/mt, with Shuangyan zinc trading between 22,125 and 22,220 yuan/mt, and 1# zinc trading between 21,965 and 22,060 yuan/mt. In the morning session, the market quoted premiums of 10 to 30 yuan/mt against the SMM average price, with fewer quotations against the futures market. During the second trading session, quotations for ordinary domestic zinc were at premiums of 60 to 70 yuan/mt against the 2508 contract, Honglu-v was quoted at a premium of 50 yuan/mt against the 2508 contract, Huize was quoted at premiums of 100 to 120 yuan/mt against the 2508 contract, and the high-priced brand Shuangyan was quoted at premiums of 140 to 160 yuan/mt against the 2508 contract. Today, the futures market continued to decline, with downstream buyers remaining bearish on prices and a resurgence of wait-and-see sentiment. Purchase activities were generally subdued, with overall trading dominated by traders.