Shanghai Zinc: Limited Market Supply, Spot Premiums Remain [SMM Midday Review]

SMM, January 7: Today, mainstream transaction prices for #0 zinc were concentrated at 25,125-25,380 yuan/mt, with no quotations for Shuangyan. Mainstream transaction prices for #1 zinc were at 25,055-25,310 yuan/mt. In the early trading session, market premiums against the average price were around 250 yuan/mt, with almost no follow-up quotations. During the second trading session, ordinary domestic zinc was quoted at premiums of around 600 yuan/mt against the 2501 contract, Huize was quoted at premiums of around 600 yuan/mt against the 2501 contract, while high-end brand Shuangyan had no quotations against the 2501 contract. Spot zinc availability in Shanghai remained limited today, with premiums staying at high levels. Downstream enterprises made purchases and restocked based on rigid demand, and overall transactions were moderate.