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Shanghai Zinc: Futures Market Remains at High Levels, Trading Still Average [SMM Midday Review]

  • Mar 07, 2025, at 3:57 am
[Shanghai Zinc: Futures Market Remains High, Transactions Still Moderate] Today, the mainstream transaction prices of 0# zinc were concentrated at 24,025-24,130 yuan/mt, with Shuangyan traded at 24,105-24,210 yuan/mt, and the mainstream transaction prices of 1# zinc at 23,955-24,060 yuan/mt. In the early session, the market quoted on par with the average price, with fewer quotes against the futures market...
SMM March 7: Today, the mainstream transaction prices of 0# zinc were concentrated at 24,025-24,130 yuan/mt, with Shuangyan trading at 24,105-24,210 yuan/mt, and 1# zinc mainstream transaction prices at 23,955-24,060 yuan/mt. In the early session, market quotations were on par with the average price, with fewer quotations against futures. During the second trading session, ordinary domestic zinc was quoted at a discount of 10-0 yuan/mt against the 2504 contract, Baiyin was quoted on par with the 2504 contract, Huize was quoted at premiums of 60-80 yuan/mt against the 2504 contract, and the high-end brand Shuangyan was quoted at premiums of 60-80 yuan/mt against the 2504 contract. Today, the futures market fluctuated at highs above 24,000 yuan/mt (metal content). Downstream enterprises remained cautious due to high prices, and market traders continued to lower spot premium quotations to facilitate sales. However, overall transactions remained sluggish, mostly limited to restocking for immediate needs with post-pricing.
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