Shanghai Zinc: Market Supply Remains Limited, Spot Premiums Rise Slightly [SMM Midday Review]

SMM January 2 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 25,860-26,080 yuan/mt, with no quotations for Shuangyan. The mainstream transaction prices of 1# zinc were at 25,790-26,010 yuan/mt. In the early trading session, the market spot premiums over the average price were around 100-120 yuan/mt, with almost no quotations following the market trend. During the second trading session, ordinary domestic zinc was quoted at premiums of 410-430 yuan/mt against the 2501 contract, Huize was quoted at a premium of 450 yuan/mt against the 2501 contract, while high-end brand Shuangyan had no quotations against the 2501 contract. On the first trading day after the New Year's holiday, no zinc ingot deliveries were seen for new annual long-term contracts. Today, market quotations from traders remained limited, with downstream purchasing based on rigid demand, and spot premiums remained at high levels.