Shanghai Metal Market: Zinc prices slightly decline, downstream purchases based on demand at low levels

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Today in Shanghai Metal Market, spot zinc is quoted at 23,840-23,940 yuan/ton, with an average price of 23,890 yuan/ton, down 130 yuan/ton from the previous trading day. The Shanghai zinc futures contract (2605) is trading at a discount of 190-90 yuan/ton. This morning, zinc prices slightly retreated from high levels; by the close of the morning session, the main Shanghai zinc contract fell by 185 yuan/ton, a decrease of 0.76%. Today’s spot market saw limited changes, with zinc prices showing a relatively strong trend. During the morning, prices pulled back; downstream buyers purchased on demand at lower prices, while holders showed willingness to support prices. Early in the session, the average market price was quoted at +20 to +30, with intra-day quotes reaching +40, but mainstream transactions remained around +25. Domestic discounts narrowed slightly to around -70. (SHMET)

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