Shanghai Metal Market: Zinc prices fluctuate sideways, spot transactions remain dull

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Today, Shanghai Metal Market’s spot zinc is quoted at 23,400–23,500 yuan/ton, with an average price of 23,450 yuan/ton. Compared with the previous trading day, it is down 150 yuan/ton. For the SHFE zinc 2604 contract, it is quoted at a discount of 210–110 yuan/ton.

In the early session, zinc prices fluctuated slightly. By the close of the morning, the main SHFE zinc contract fell by 135 yuan/ton, a drop of 0.57%. Today’s spot market trading was flat, and zinc prices continued to trade in a range. Downstream stockpiling has basically ended. Spot market transactions today remained average/flat. Holders kept their bids relative to the market’s average price on the grid at around +30 to +40. As zinc prices fell, domestic tracking prices were adjusted slightly upward to around -70 (give or take).

(SHMET)

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