Shanghai Zinc: Futures zinc prices consolidate at highs, market trading shows no improvement [SMM Midday Review]

SMM July 8 News: Today, mainstream transaction prices for #0 zinc were concentrated at 24,580~24,685 yuan/mt, with Shuangyan mainly transacted at 24,740~24,835 yuan/mt, and #1 zinc mainstream transactions at 24,510~24,615 yuan/mt. In the morning session, market quotations against the SMM average price were at premiums of 10~20 yuan/mt, with no quotes against futures yet. In the second trading session, quotations for ordinary domestic brands against the 2608 contract were at discounts of 60~50 yuan/mt, silver brand quotations against the 2608 contract were at a discount of 40 yuan/mt, and the high-priced Shuangyan brand against the 2608 contract was at a premium of 100 yuan/mt. Today, the purchasing sentiment for refined zinc in Shanghai was 1.92, and the shipment sentiment was 2.56. Zinc ingot supply in the Shanghai market was ample. Zinc futures prices consolidated at highs in the morning session, while downstream off-season orders were weak. Inquiries and purchases today remained mediocre, and spot transaction performance showed no improvement. Market trading was mainly between traders.