Zinc prices fell mid-week, with premiums dropping first and then rising [SMM Shanghai Spot Weekly Review]

SMM August 1 News: This week, spot premiums in Shanghai first fell and then rose, with the weekly average price increasing by 10 yuan/mt WoW. As of Friday this week, the ordinary domestic brand was on par with the 2508 contract, with the high-priced brand Shuangyan having fewer quotations. In the first half of the week, zinc prices fluctuated at highs, with downstream enterprises mainly engaging in just-in-time procurement. Amidst poor sales, spot premiums slightly declined. However, in the latter half of the week, zinc prices significantly dropped, and downstream enterprises increased their buying the dip, driving a slight increase in spot premiums. Nevertheless, the number of traders selling also increased, limiting the overall rise in premiums. It is expected that spot premiums may maintain a fluctuating trend next week.