[SMM Zinc Morning Meeting Summary: LME Inventory Running at Low Levels LME Zinc Fluctuates at Highs]: Overnight, LME zinc opened at $3,591/mt, fluctuated upward after opening, touched a high of $3,623/mt, then pulled back all the way, dipped to $3,568/mt during the session, and finally closed up at $3,584.5/mt, up $1.5/mt, or 0.04%. Trading volume dropped to 11,715 lots...

[SMM Zinc Morning Comment: China's Zinc Ingot Inventory Recorded an Increase, Weak Consumption Dragged Down Zinc Prices] Overnight, the most-traded SHFE zinc 2608 contract opened at 24,840 yuan/mt. After opening, SHFE zinc moved sideways around the daily average line, hitting a high of 24,860 yuan/mt during the session and a low of 24,785 yuan/mt near the end. It finally closed lower at 24,820 yuan/mt, down 55 yuan/mt, a decline of 0.22%..

[US-Iran Peace Agreement Boosts Market Sentiment, SHFE Zinc Hovers at Highs] The most-traded SHFE zinc 2608 contract opened at 24,715 yuan/mt. After the opening, SHFE zinc fluctuated higher, dipping to 24,715 yuan/mt at the start and reaching a high of 24,930 yuan/mt near the close. It finally closed up at 24,875 yuan/mt, gaining 205 yuan/mt or 0.83%. Trading volume increased by 7,651 lots to 43,398 lots, and open interest rose by 1,372 lots to 79,180 lots.....

[SMM Zinc Morning Meeting Minutes: US and Iran About to Sign Peace Agreement, LME Zinc Stops Falling and Rebounds]: Last Friday, LME zinc opened at $3,526.5/mt. After opening, LME zinc briefly maintained a fluctuating trend, during which it dipped to a low of $3,511.5/mt, then started a fluctuating upward trend, touching a high of $3,590.5/mt near the close, finally closing up at $3,583/mt, up $57.5/mt, an increase of 1.63%...

[Zinc Price Center Edges Lower, Die-Casting Zinc Alloy Enterprise Shipments Improve Within the Week] The current overall market demand in the die-casting zinc alloy industry is weak, with flat demand in the traditional hardware sector. Some enterprises reported that real estate hardware accessories underperformed YoY. In addition, recent demand for various zipper orders has been mediocre, showing clear off-season characteristics, while electronic product order demand has been relatively stable, but overall volume remains relatively small...

[Prices Pulled Back This Week, Guangdong Spot Market Activity Increased] This week, premiums in Guangdong rose 15 yuan/mt WoW. As of this Friday, mainstream 0# zinc in Guangdong was quoted at a discount of 35-25 yuan/mt against the market. The Shanghai-Guangdong price spread remained...

[Shanghai zinc ingot inventory slightly destocked, spot zinc discounts narrowed]: This week, spot discounts in Shanghai narrowed, with the weekly average price up 20 yuan/mt WoW. As of Friday this week, ordinary domestic brands were quoted at discounts of 10-0 yuan/mt against the 2607 contract, while the high-priced brand Shuangyan was quoted at a premium of 60 yuan/mt against the 2607 contract.

[Downstream enterprises locked in prices on dips mid-week; spot premiums rose WoW]: This week, spot premiums in Ningbo rose, up 25 yuan/mt WoW from the previous week's average. As of this Friday, spot prices in Ningbo against the 2607 contract were quoted at parity, with a premium of 40 yuan/mt against Shanghai, and during the week, the premium against Shanghai maintained a fluctuating trend..

[Many Macro Disturbances, SHFE/LME Zinc Price Ratio Fluctuating Around 6.9]: This week, the SHFE/LME zinc price ratio fluctuated around 6.9, and the zinc ingot import window remained closed. Outside China, on the macro front, geopolitical conflicts were repeated, and the short-term escalation risk eased temporarily. The market priced in a 25 basis point rate hike this year, and LME zinc center shifted lower and then fluctuated.

[Transactions Improved Within the Week, Premiums Rose]: Spot premiums in Tianjin rose this week, up 20 yuan/mt WoW. As of this Friday, mainstream domestic brands were quoted at discounts of 30-80 yuan/mt against the 2607 contract, higher-priced brands at discounts of 20-30 yuan/mt against the same contract, and Tianjin market at a discount of about 50 yuan/mt against Shanghai.