Shanghai Zinc Market: Increased Buying, Discounts Narrow Rapidly

Today's mainstream transaction prices for 0# zinc were 24,070-24,250 yuan/mt, with Shuangyan trading at 24,220-24,350 yuan/mt, and 1# zinc trading at 24,000-24,180 yuan/mt. In the early trading session, market average premiums were 10-30 yuan/mt, with discounts of 0-50 yuan/mt against the 2407 contract, and quotes were scattered. In the second trading period, ordinary domestic brands were quoted at discounts of 0-30 yuan/mt against the 2407 contract, while high-end brand Shuangyan was quoted at premiums of around 100 yuan/mt against the 2407 contract. Today's zinc prices fluctuated at low levels, with increased buying sentiment from traders, leading to firming price. Downstream companies increased restocking, causing discounts to narrow rapidly. Further premium increases are expected.