Shanghai Zinc: Futures Market Declined, Premium Rose Slightly [SMM Midday Review]

Apr 02, 2025, at 3:44 am

Shanghai Zinc: Futures Market Declined, Premiums Rose Slightly. Today, the mainstream transaction prices of 0# zinc were concentrated at 23,290-23,520 yuan/mt, with Shuangyan transactions at 23,360-23,570 yuan/mt, and the mainstream transactions of 1# zinc at 23,220-23,450 yuan/mt. In the morning session, the market quoted premiums of 20-40 yuan/mt against the average price, with fewer quotes against the futures market.

SMM April 2 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,290~23,520 yuan/mt, with Shuangyan transactions at 23,360~23,570 yuan/mt, and 1# zinc mainstream transactions at 23,220~23,450 yuan/mt. In the morning session, the market quoted premiums of 20~40 yuan/mt against the average price, with fewer quotes against the futures market. In the second trading session, ordinary domestic brands were quoted at premiums of 50~70 yuan/mt against the 2505 contract, Baiyin at a premium of 50 yuan/mt against the 2504 contract, Huize at a premium of 100 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan at a premium of 120 yuan/mt against the 2505 contract. The futures market declined in the morning session, and corporate inquiries and purchases improved. However, with traders offloading large volumes at the start of the week, the market supply was limited today, coupled with some traders holding back sales, leading to a MoM increase in Shanghai spot premiums. Overall trading remained dominated by inter-trader activities.

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