[Traders Held Firm Offers, and Spot Premiums Continued to Rise]: Spot premiums in Shanghai kept rising this week, up 30 yuan/mt WoW in terms of the weekly average price. As of this Friday, ordinary domestic brands were quoted at a discount of 20 yuan/mt against the 2605 contract, while the high-priced brand Shuangyan was quoted at a premium of 40-50 yuan/mt against the 2605 contract..

[Downstream Enterprises Purchased as Needed, and Spot Transactions Were Average]: This week, Ningbo spot premiums continued to rise, with the weekly average price up 20 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2605 contract were quoted at a discount of 30 yuan/mt to a discount of 20 yuan/mt, with a premium of 40 yuan/mt against Shanghai.

[Weak Market Transactions During the Week, Guangdong Spot Premiums Continued to Decline] Zinc prices continued their upward trend this week, while downstream end-users in Guangdong showed weak purchasing interest. Coupled with the successive arrivals of some enterprises' long-term contract cargoes, market trading sentiment was sluggish, and spot premiums continued to decline......

SMM News, April 2: Guangdong: Spot premiums in the region continued to rise this week. Robust downstream demand, coupled with tight supply, kept inventory falling and in turn pushed up spot premiums. As of Thursday, high-quality copper was quoted at 200 yuan/mt, up 80 yuan/mt from last Thursday; standard-quality copper was quoted at a premium of 110 yuan/mt, up 80 yuan/mt WoW; SX-EW copper was quoted at 50 yuan/mt, up 90 yuan/mt WoW. As of Thursday, the price spread in standard-quality copper premiums between Shanghai and Guangdong stood at Guangdong being 190 yuan/mt higher. As the spread continued to widen, there was temporarily no cross-region cargo transfer this week, and attention should be paid to whether such transfers will emerge next week. According to SMM statistics, as of Thursday, total inventory in Guangdong warehouses was 45,500 mt, down 16,100 mt from last Thursday and down 52,200 mt from the year’s high, while warrants totaled 26,000 mt, down 9,600 mt from last Thursday. Specifically, warehouse arrivals this week were 8,200 mt/week, down 800 mt/week WoW and far below the annual average level of 14,000 mt/week. Affected by maintenance at nearby smelters, arrivals of domestic copper remained limited, and replenishment from imported copper was also scarce. Warehouse withdrawals were 24,000 mt/week, down 5,700 mt/week WoW, but still far above the annual average level of 14,200 mt/week. Although warehouse withdrawals declined slightly from last week, they remained above the average level, mainly due to robust downstream consumption, which kept warehouse withdrawals high. Looking ahead to next week, with a nearby smelter still under maintenance and arrivals of imported copper also limited, supply is expected to remain tight next week. On the demand side, it is understood that most copper rod enterprises are still operating at full capacity and said this can continue until mid-April. Therefore, demand is expected to continue exceeding supply next week, inventory will keep falling, and spot premiums are expected to continue rising. (The above information is based on market collection and the comprehensive assessment of the SMM research team. The information provided in this article is for reference only. This article does not constitute direct advice for investment research decisions. Clients should make decisions prudently and should not use this as a substitute for their own independent judgment. Any decisions made by clients are unrelated to SMM.)

[Guangdong Premiums Rose This Week, Expected to Maintain a Fluctuating Trend Next Week] Guangdong premiums rose 45 yuan/mt WoW this week. As of this Friday, mainstream 0# zinc in Guangdong was quoted at discounts of 20~0 yuan/mt against market quotations, and the Shanghai-Guangdong price spread narrowed.......

[Traders' Offers Remained Firm, Spot Premiums Rose WoW]: Spot premiums in Shanghai increased this week, with the weekly average price up 35 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a discount of 10 yuan/mt to a premium of 10 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2605 contract..

[Traders Raised Spot Quotes, and Downstream Buyers Made Purchases Based on Demand]: Ningbo spot premiums continued to rise this week, with the weekly average price up 50 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2604 contract were quoted at parity, with a premium of 60 yuan/mt against Shanghai, and the premium against Shanghai widened during the week..

[Zinc Prices Fell During the Week, Guangdong Spot Premiums Rose] Guangdong premiums rose 20 yuan/mt WoW this week. As of this Friday, mainstream 0# zinc in Guangdong was quoted at discounts of 0 to premiums of 40 yuan/mt against the market, and the Shanghai-Guangdong price spread continued to widen......

[Futures Zinc Prices Fell Sharply, While Spot Premiums Strengthened During the Week]: Shanghai spot premiums strengthened this week, with the weekly average price up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of 30 yuan/mt to 20 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2604 contract.

[Downstream Enterprises Actively Priced and Purchased, with Spot Transactions Improving Significantly During the Week]: This week, Ningbo spot premiums continued to rise, with the weekly average price up 20 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2604 contract were at a discount of 30 yuan/mt, with a premium of 50 yuan/mt against Shanghai, and the premium against Shanghai widened during the week..