Shanghai Metal Market: Zinc prices trending stronger, downstream rigid demand consumption

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Today, Shanghai Metal Market spot zinc is at 24,160-24,260 yuan/ton, with an average price of 24,210 yuan/ton, up 150 yuan/ton from the previous trading day, and the SHFE zinc 2605 contract is trading at a discount of 190-90 yuan/ton. The price center of zinc continues to fluctuate upward, and by the close of the morning session, the main SHFE zinc contract rose by 170 yuan/ton, a 0.7% increase. Today’s spot market trading is moderate, with the zinc price center moving higher, but downstream acceptance at high levels is limited. Before the holiday, procurement remains mainly for just-in-time needs, and although holders are willing to maintain prices, consumption growth is limited. During trading, the average price of spot zinc ingots on the network is around +30, with domestic follow-up discounts maintained at around -70. (SHMET)

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