SMM July 31 News:
Today, mainstream transaction prices for #0 zinc were concentrated at 24,880~25,005 yuan/mt, Shuangyan transaction prices were mainly at 24,990~25,105 yuan/mt, and #1 zinc transaction prices were mainly at 24,810~24,935 yuan/mt. In the morning session, the market offered premiums of 20~40 yuan/mt against the SMM average price for cargoes with invoices dated next month, with no quotations against the futures price. In the second trading session, ordinary domestic brand quotations against the 2609 contract were at premiums of 20~30 yuan/mt, silver against the 2608 contract had premiums of 100 yuan/mt, and the high-grade brand Shuangyan against the 2609 contract was quoted at premiums of 130 yuan/mt. Today, the purchasing sentiment for refined zinc in the Shanghai area was 1.9, and the selling sentiment was 2.42. Today, SHFE zinc futures prices fluctuated at highs, and in the off-season, downstream orders performed poorly. Downstream enterprises mostly remained on the sidelines today, and the overall spot market was rather sluggish. Meanwhile, at month-end, traders sold little, and overall spot quotations today were basically stable compared to yesterday.
