Overview:SHFE zinc futures prices rose MoM to around 26,000 yuan/mt today, with downstream enterprises gripped by a strong fear of high prices. They remained on the sidelines with almost no inquiries, and overall spot trades were sluggish. Traders offered casually, with premiums little changed from yesterday. The SMM #0 zinc ingot price was up 300 yuan/mt MoM to 25,940 yuan/mt.
Downstream: SHFE zinc futures prices were high. We continued to wait and see without purchasing today, monitoring subsequent price trends.
Downstream: Recently, inventories have been continuously replenished by long-term contract zinc ingot arrivals. Market quotes were sluggish today, and we are staying on the sidelines for now without making purchases.
Downstream: SHFE zinc futures prices rose significantly today. The plant held certain raw material inventories and did not purchase today.
Trader: Today, spot #0 zinc ingot with invoices dated next month was traded at a premium of 30 yuan/mt over the SMM #0 zinc ingot average price, unchanged from the previous trading day. There were almost no spot deals in the market today.
Upstream: There were no spot order shipments in Shanghai today, with EXW deliveries dominating.
Upstream: Today, spot #0 zinc ingot with invoices dated this month was quoted at a premium of 80 yuan/mt against the 2609 contract, flat from the previous trading day. The overall spot market was sluggish today.
Trader: Today, spot #0 zinc ingot was quoted at a premium of 40 yuan/mt over the SMM #0 zinc ingot average price, with the premium over the average price unchanged from the previous trading day. SHFE zinc futures prices rose notably, and market trading was sluggish.
Trader: Today, EXW #0 zinc ingot in Shanghai was quoted at a discount of 30-50 yuan/mt against the 2609 contract. Overall spot quotations were little changed from yesterday. SHFE zinc futures prices were high, and there were almost no deals today.