Shanghai Zinc: With Limited Market Circulating Supply, Traders Showed A Low Willingness to Sell at Low Prices [SMM Midday Review]

Today, the mainstream transaction prices for 0# zinc were concentrated between 24,120-24,250 yuan/mt, Shuangyan brand was traded at 24,300-24,420 yuan/mt, and the mainstream transaction prices for 1# zinc were between 24,050-24,180 yuan/mt. In the early trading session, the average price of cargoes with invoices dated this month was at a discount of 0-5 yuan/mt. in the second trading session, the ordinary domestic brands were quoted were at a discount of 0-10 yuan/mt to the 2409 contract, while the high-priced brand Shuangyan was at a premium of around 170 yuan/mt over the 2409 contract. Zinc prices stayed high, and market circulating supply was limited. The quotations of zinc with invoices dated this month slightly increased, and those dated next month remained volatile. Traders continued to have a low willingness to sell at a discount, and the premium remained volatile.