SMM June 13 News: This week, the spot premiums in the Shanghai region have declined significantly, with a WoW decrease of 160 yuan/mt compared to the weekly average price. As of Friday this week, the premiums for ordinary domestic brands against the 2507 contract were quoted at 260-280 yuan/mt, while premiums for the high-end brand Shuangyan against the 2507 contract were quoted at 350-380 yuan/mt, and premiums for Spanish zinc against the 2507 contract were quoted at 200 yuan/mt. In the first half of the week, zinc prices fell below the 22,000 yuan/mt threshold, and downstream enterprises bought the dip for inventory preparation, with moderate trading performance. However, there was a significant influx of imported zinc ingots from Spain, India, and other countries into the market, and the rise in domestic premiums struggled. In the second half of the week, as the futures market rebounded, enterprises' purchase willingness weakened, and trading performance turned worse on a WoW basis. Coupled with the impact of low-priced imported zinc ingots, spot premiums in the market continued to decline. It is expected that after the delivery is completed next week, premiums may continue to weaken.
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