Shanghai Zinc: Futures market maintains fluctuating trend, premium slightly declines [SMM Midday Review]

SMM News on July 17: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,090 to 22,200 yuan/mt, with Shuangyan trading at 22,170 to 22,300 yuan/mt, and 1# zinc trading at 22,020 to 22,130 yuan/mt. In the morning session, the market was quoted at premiums of 10 to 30 yuan/mt against the SMM average price, with almost no quotes against the futures price. During the second trading session, quotations for ordinary domestic zinc were at premiums of 40 to 50 yuan/mt against the 2508 contract, Honglu-v was at a premium of 60 yuan/mt against the 2508 contract, Huize was at a premium of 100 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, zinc prices fluctuated, and there were many traders selling in the market. Downstream enterprises, having purchased at lower prices earlier and holding a certain amount of inventory, continued to wait and see today. Overall transactions remained just-in-time, and premiums continued to be weak.