Zinc prices rose sharply, overall transaction weakened in Shanghai

Mainstream traded prices of #0 zinc were 20890~21010 yuan/mt today, with 21000~21110 yuan/mt for Shuangyan zinc against the 2404 contract, and 20820~20940 yuan/mt for #1 zinc. In the morning, the premiums were 0~10 yuan/mt over the average SMM price, with premiums of -10~20 yuan/mt over the SHFE 2404 zinc contract. There were barely any trades. During the second trading session, regular domestic brands were quoted with premiums of -10~10 yuan/mt over the SHFE 2404 zinc contract. Shuangyan zinc was quoted with premiums of 100~110 yuan/mt over the SHFE 2404 contract. Zinc prices rose sharply today, approaching 21,000 yuan/ton, and market shipments increased. However, downstream companies were cautious in purchasing; market transactions became sluggish.