SMM reported on January 10: This week, spot premiums in the Shanghai region saw a slight increase, up 50 yuan/mt WoW based on the weekly average price. As of Thursday this week, spot premiums for ordinary domestic brands against the 2502 contract stood at 570 yuan/mt, while high-end brand Shuangyan quoted a premium of 920 yuan/mt against the 2502 contract. In the first half of the week, tight supply in the Shanghai market persisted, prompting some downstream buyers to start stocking zinc ingots due to concerns over future supply shortages. Coupled with a continuous decline in zinc prices during the week, overall transactions improved compared to last week, and spot premiums also continued to rise. However, in the latter half of the week, as zinc ingots from long-term contracts arrived in Shanghai, more traders began to sell in the market. Under high premiums, enterprises showed cautious purchasing behavior, and some traders faced difficulties in selling, leading to a decline in spot premiums. It is expected that as downstream enterprises gradually go on holiday, premiums in Shanghai will continue to decrease.
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