Shanghai Zinc: Market traders' quotes are firm, spot premiums hold steady [SMM Midday Review]

SMM August 5 News:

       Today, the mainstream transaction prices of #0 zinc were concentrated at 25,125~25,350 yuan/mt, Shuangyan was mainly traded at 25,245~25,450 yuan/mt, and #1 zinc was mainly traded at 25,055~25,280 yuan/mt. In the morning session, market quotations against the SMM average price were at premiums of 40~60 yuan/mt, and there were no quotes against the futures yet. In the second trading session, quotations for ordinary domestic zinc against the 2609 contract were at premiums of 30~50 yuan/mt, silver against the 2609 contract at premiums of 60 yuan/mt, and the high-priced brand Shuangyan against the 2609 contract at premiums of 150 yuan/mt. Today, the purchase sentiment for refined zinc in the Shanghai area was 1.88, and the shipment sentiment was 2.65. The SHFE zinc futures price rose again to above 25,000 yuan/mt, resulting in strong fear of high prices among downstream enterprises, poor overall purchase willingness, and sluggish spot trades of zinc ingot. However, traders in the Shanghai market did not sell much, and overall spot quotations remained firm.