SMM September 25: Shanghai spot cargo quotes rose slightly this week, up 10 yuan/mt WoW from the pre-holiday average. As of Friday, common domestic brands were at a discount of 65 yuan/mt against the 2511 contract, while the premium brand Shuangyan was at a premium of 100 yuan/mt against the 2511 contract. After the holiday, zinc futures prices rose significantly, but zinc ingot arrivals in Shanghai during the holiday saw limited growth due to transportation constraints. Coupled with the brief opening of the export window, some suppliers planned exports, reducing their willingness to sell in the domestic market. Recently, zinc ingot availability in the market has been limited, and traders showed renewed reluctance to budge on prices, leading spot premiums to rise. Continued monitoring of subsequent zinc ingot export developments is needed.
