Pre-Holiday Market Volume Continues to Decrease, Premiums Shift to Raised Quotations [SMM Shanghai Spot Cargo Weekly Review]

SMM December 31: Shanghai spot premiums turned higher this week, with the weekly average price up 20 yuan/mt in metal content WoW. As of Friday, premiums for common domestic brands against the 2601 contract stood at 250 yuan/mt, while the high-priced brand Shuangyan had no offers against the 2601 contract. Approaching year-end, many traders closed their books, and zinc ingot availability in the Shanghai market was limited during the week. Although downstream enterprises had largely completed their stockpiling earlier, resulting in low spot purchase willingness this week, traders were reluctant to sell at low prices and continued to raise their weekly spot offers, pushing premiums higher WoW. Spot premiums are expected to find it difficult to pull back after the holiday.