Spot Premiums In Shanghai Zinc Market Fell Further Amid Increased Supply

Mainstream traded prices of #0 zinc were 21030~21180 yuan/mt today, with 21110~21270 yuan/mt for Shuangyan zinc, and 20960~21110 yuan/mt for #1 zinc.

In the morning, the discounts were 10~20 yuan/mt over the average SMM price, with premiums of 140~150 yuan/mt over the SHFE 2312 zinc contract.

During the second trading session, regular domestic brands were quoted with premiums of 140 yuan/mt over the SHFE 2312 zinc contract. Shuangyan zinc was quoted with premiums of 190~200 yuan/mt over the SHFE 2311 contract. Although the zinc price fell slightly, it has not yet reached the market expected price. At the same time, imported zinc ingots of SMC, AZ, and KZ brands entered the market, and the market supply increased. Due to poor shipments, the premiums continued to decrease.