Spot zinc buyers stockpile ahead of Labour Day

SHANGHAI, Apr 27 (SMM) – Cargos with invoices for May traded more actively than those with April invoices while downstream buyers stockpiled on Friday April 27 before the Labour Day holiday, SMM learned.

In Shanghai, #0 zinc mostly traded at 24,020-24,140 yuan/mt. The 0# common brands with invoices for May were offered at a premium of 150-170 yuan/mt over the SHFE 1805 contract with 0# Shuangyan at a premium of 170-190 yuan/mt. Offers and trading for cargos with April invoices were scarce. Most #1 zinc traded at 23,980-24,060 yuan/mt. 

In the Guangdong market, #0 zinc mostly traded at 24,000-24,160 yuan/mt. The Guangdong-Shanghai price spread remained flat from the previous day, at a discount of 50-40 yuan/mt. Cargoes with invoices for May mostly traded at a premium of 150-200 yuan/mt over the SHFE 1806 contract, largely unchanged from the previous day.

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