SMM September 25 News: Shanghai spot prices edged up this week, with the weekly average price rising 10 yuan/mt WoW. As of Friday, spot premiums for common domestic brands were at a discount of 30 yuan/mt against the 2510 contract, while premiums for the high-priced brand Shuangyan were at 130-150 yuan/mt against the 2510 contract. In the first half of the week, zinc futures broke below 21,900 yuan/mt, prompting downstream buyers to actively purchase at lower prices. Combined with pre-holiday stocking demand for the National Day holiday, spot trades improved significantly, and spot premiums rose slightly. However, as some downstream buyers completed their stockpiling, purchasing momentum from enterprises gradually weakened. Coupled with a rebound in futures in the latter half of the week, spot trading softened, and spot prices struggled to rise further. Spot premiums are expected to maintain a fluctuating trend next week.
