Overview:Recently, due to limited circulation of zinc ingots in the Shanghai market amid bill-related factors, traders continued to hold prices firm when selling. Today, spot premiums in Shanghai rose further, but zinc futures prices maintained a fluctuating trend. Downstream enterprises had purchased heavily via price fixing in the previous two days, so their purchase willingness weakened today. Overall spot trades were mediocre. SMM #0 zinc ingot price rose 85 yuan/mt MoM to 26,115 yuan/mt.
Downstream: Today, #0 zinc ingot ex-warehouse Ningbo was quoted at a discount of 30 yuan/mt against the 2610 contract, with spot premiums basically flat from yesterday, and with certain raw material inventory at the plant, the market continued to wait and see today
Downstream: The National Day stockpiling process is already more than halfway complete, and today the plan is to stay on the sidelines without purchasing, with trading activity in the Ningbo market weakening and spot premiums holding steady
Downstream: Today, #0 zinc ingot was quoted at a premium of 30 yuan/mt against the 2610 contract on a delivered-to-factory basis, with spot premiums basically flat from yesterday, and after earlier purchases, the market stayed on the sidelines today
Upstream: Today, ordinary #0 zinc ingot spot cargoes with invoices dated this month were quoted at a premium of 90 yuan/mt against the 2610 contract, up 40 yuan/mt from the previous trading day, with limited shipments for now
Trader: Today, there were no zinc ingot shipments in the east China market, and it was heard that circulating zinc ingot spot cargoes in the Shanghai market were limited, with spot premiums continuing to move higher today
Trader: Futures zinc prices consolidated, and downstream purchasing enthusiasm was weaker than at the start of the week, but with limited circulating cargoes in the Shanghai market and strong sentiment among traders to hold prices firm, overall spot premiums continued to move higher today
Upstream: Today, ordinary #0 zinc ingot spot cargoes with invoices dated this month were quoted at a premium of 60 yuan/mt against the 2610 contract, up 50 yuan/mt from the previous trading day, with limited Shanghai inventory and premiums raised further in line with the market
Trader: Today, #1 zinc ex-warehouse Shanghai was quoted at a discount of 160 yuan/mt against the 2611 contract, but downstream buyers had purchased more in the previous two days, and purchase willingness weakened today
Trader: Today, Shanghai Qilin was quoted at a premium of around 100 yuan/mt against the SMM #0 zinc ingot average price, with overall market premium quotations continuing to move higher and spot trades mostly between traders
Trader: Today, Shanghai Qilin was quoted at a premium of 80 yuan/mt against the SMM #0 average price, with limited market cargoes and spot trades mostly between traders, while spot premiums continued to rise
Trader: Today, ordinary #0 zinc ingot ex-warehouse Shanghai was quoted at premiums of 60~80 yuan/mt against the 2610 contract, with limited circulating cargoes in the Shanghai market and overall premiums continuing to rise MoM
Upstream: with stocktaking as the main activity today and no shipment quotations in the morning
Trader: Today, spot premiums in the Shanghai zinc ingot spot market continued to move higher, heard to be basically at a premium of around 100 yuan/mt against the SMM #0 average price, and zinc ingot quotations were reported at a premium of 140 yuan/mt against the SMM #0 average price on a delivered-to-downstream-factory basis
Upstream: Today, no zinc ingot shipment quotations were offered from Shanghai warehouses