Year-End Traders Clear Inventory, Shanghai Premium Slightly Declines [SMM Shanghai Spot Weekly Review]

SMM December 27 News: This week, spot premiums in the Shanghai region declined, down 25 yuan/mt WoW based on the weekly average price. As of Thursday, spot premiums for ordinary domestic brands against the 2501 contract stood at 330 yuan/mt, while high-end brand Shuangyan had no quotes against the 2501 contract. With the annual long-term contracts nearing completion, some traders cleared inventory at year-end this week. Additionally, the arrival of some new annual long-term contract zinc ingots in the latter half of the week supplemented Shanghai's supply. Coupled with the continuous rise in the futures market during the week, market buying sentiment was weak, and downstream buyers primarily restocked as needed. Spot premiums saw a slight decline during the week. It is expected that with the gradual arrival of long-term contracts after the holiday, spot premiums in Shanghai will continue to decrease.

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