SMM News on July 18: This week, spot premiums in Shanghai continued to decline, with a WoW decrease of 50 yuan/mt from the weekly average price. As of Friday this week, the spot premiums for ordinary domestic brands against the 2508 contract ranged from 0 to 30 yuan/mt, while those for the high-priced brand Shuangyan against the 2508 contract ranged from 100 to 140 yuan/mt. At the beginning of the week, the futures market declined slightly, prompting some downstream enterprises to restock at lower prices, which drove a slight improvement in spot transactions and kept spot premiums stable. However, mid-week, the futures market remained stable, with downstream enterprises exhibiting strong wait-and-see sentiment. Subsequently, the futures market rose significantly towards the end of the week, further suppressing downstream buying sentiment, and causing spot premiums to decline continuously. With the continuous arrival of domestic zinc ingots, it is expected that spot premiums in Shanghai will remain weak next week.
