Traders Dump Inventory as Premiums Plummet [SMM Shanghai Spot Weekly Review]

SMM January 24 News: This week, spot premiums in the Shanghai region dropped significantly, down 350 yuan/mt WoW based on the weekly average price. As of this Friday, ordinary domestic brands were quoted on par with the 2502 contract, while high-end brand Shuangyan had no quotes for the 2502 contract. This week marked the final trading week before the holiday, and as downstream buyers and traders gradually entered holiday mode, shipments in the Shanghai market continued to decline. Toward the year-end, some traders lowered spot premium quotes to clear inventory. Although some downstream enterprises engaged in buying the dip during the week, overall transaction performance weakened significantly, and trading sentiment was sluggish. Due to the typical inventory buildup of zinc ingots during the Chinese New Year, spot premiums in the Shanghai market are expected to fluctuate downward after the holiday.

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