Overview:SHFE zinc futures prices continued to consolidate at highs today, while downstream enterprises' fear of high prices persisted. Inquiry and purchase enthusiasm was poor today, overall spot trading performance was poor, traders' shipments were sluggish, and overall quoting enthusiasm was low. Spot trades in the market remained mostly among traders today. SMM #0 zinc ingot price was up 130 yuan/mt MoM to 25,640 yuan/mt.
Downstream: Recently, orders at downstream plants have shown no improvement, and there remains some raw material inventory at the plants. They continued to stay on the sidelines and did not purchase today.
Downstream: Quotes received for #0 zinc ingot today fell 10 yuan/mt from yesterday. SHFE zinc futures prices stayed high, and the market chose to wait and see today.
Trader: Today, #0 zinc ingot spot traded at a premium of 50 yuan/mt against the SMM #0 zinc average price, and the premium over the average price was flat compared to the previous trading day. Overall spot trading remained sluggish today.
Trader: Trading in the east China spot market stayed sluggish today. Downstream enterprises were mostly bearish on the futures market, and overall enthusiasm for inquiries and purchases was low today.
Upstream: There were no spot order shipments in Shanghai today, with EXW deliveries being the main method.
Upstream: Today, #0 zinc ingot spot with invoices dated this month was quoted at a premium of 60 yuan/mt against the SHFE zinc 2609 contract, with spot premiums rising 10 yuan/mt from the previous trading day. No spot inventory was held in Shanghai warehouses today.
Trader: Today, #0 zinc ingot spot was quoted at a premium of 50 yuan/mt against the SMM #0 zinc average price, but downstream enterprises stayed fearful of high prices and cautious, leaving overall trading sluggish today.
Trader: In the morning, SHFE zinc futures prices stayed high, while downstream enterprises remained cautious with low purchase enthusiasm. Today, business focused on long-term contract deliveries, and no quotes were yet available for spot orders.