SMM, April 30: This week, spot premiums in the Shanghai region narrowed slightly, with the weekly average price down 10 yuan/mt WoW. As of Wednesday, the premium for ordinary domestic brands against the 2505 contract was 160 yuan/mt, while the premium for the high-end brand Shuangyan against the 2505 contract was 350 yuan/mt, and the premium for Hazin against the 2505 contract ranged from 90 to 100 yuan/mt. The futures market fluctuated during the week. As stockpiling ahead of the Labour Day holiday neared its end, downstream enterprises showed low willingness to purchase this week, with spot transactions mainly driven by immediate needs. However, as downstream enterprises continued to pick up goods from zinc ingots purchased earlier, Shanghai's zinc ingot inventory declined significantly, limiting the decline in spot premiums during the week. It is expected that next week, after the Labour Day holiday, with contract rollover under a backwardation structure, premiums are expected to rise.
》Subscribe to view SMM's historical spot metal prices
