Shanghai zinc: As market transactions improved, spot premiums rose

Today, the mainstream transaction prices for 0# zinc were concentrated between 23,500-23,610 yuan/mt, Shuangyan traded at 23,690-23,800 yuan/mt, and the mainstream transaction prices for 1# zinc were between 23,430-23,540 yuan/mt. In the early trading session, the market average price was quoted with a premium of 0-10 yuan/mt, and the discount against the 2408 contract ranged from 10-50 yuan/mt, with relatively divergent quotes, but transactions were mainly based on the market average price. In the second trading session, the general domestic quotes were at a discount of around 30-40 yuan/mt against the 2408 contract, while the high-priced brand Shuangyan was quoted at a premium of around 150-160 yuan/mt against the 2408 contract. The early market transactions were relatively good, but downstream sentiment towards zinc prices remained bearish. Additionally, with the zinc price drop yesterday afternoon, downstream purchasing was more active, leading to more cautious procurement today. Overall, market supply decreased, premiums continued to improve, and transactions were moderate.