Zinc in Shanghai Market: Spot Premiums Fell Slightly with Thin Transactions

SHANHAI, May 23(SMM) - Spot prices of zinc 0# in Shanghai market stood at 25,500-25,620 yuan/mt, Shuangyan at 25,560-25,670 yuan/mt. Zinc 0# regular brand with premiums of 50-60 yuan/mt over the June contract, Shuangyan at 110-120 yuan/mt. Zinc 1# mainstream prices stood at 25,430-25,550 yuan/mt. Zinc prices moved rangebound. The market mainly sold cargoes and some holders lowered spot premiums. Spot premiums stood at 50-60 yuan/mt over SHFE zinc 2206 contract and quoted at 15-10 yuan/mt over the average price. In the second trading session, holders of regular brands of zinc ingots quoted at premiums of 50-60 yuan/mt over the June contract. Overall, the market mainly sold cargoes today. Holders lowered the spot premiums with poor transactions. But more traders received goods compared to last week and the spot discounts to narrowed over the average price with modest transactions.