Shanghai Zinc: Market supply increased, average price premium adjusted downward from high levels

Today, the mainstream transaction prices for 0# zinc were concentrated between 23,285 and 23,430 yuan/mt, while Shuangyan was traded at 23,460 to 23,610 yuan/mt, and the mainstream transaction prices for 1# zinc were between 232,155 and 23,360 yuan/mt. In the early session, the market average premium rose to 10-20 yuan/mt, but subsequently, transactions were weak, and the premium fell to 0-10 yuan/mt, with the premium for the 2408 contract around 10 yuan/mt, mainly focusing on average price transactions. In the second trading session, the ordinary domestic quotes for the 2408 contract were around a premium of 5-20 yuan/mt, while the high-priced brand Shuangyan had a premium of 180-200 yuan/mt. The market supply increased significantly, making it difficult for traders to hold prices, and the average premium was adjusted downwards. Additionally, the import window is approaching, and it is expected that the subsequent premium increase will be weak.