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Shanghai Metal Market: Zinc prices decline, downstream buyers purchase on dips

K-LinePoet
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Today, Shanghai Metals Market spot prices for 0#锌24610-24710元/吨，均价24660元/吨，较上一交易日上涨60元/吨，对沪锌2607合约报贴水100-平水/吨；1# zinc are 24,540–24,640 yuan/ton, with an average of 24,590 yuan/ton. Compared with the previous trading day, it rose by 60 yuan/ton. For the Shanghai zinc 2606 contract, it is quoted at a discount of 170 to 70 yuan/ton. The stronger U.S. dollar index dragged the entire non-ferrous metals sector lower, leading to broad declines, but zinc prices showed relative resilience. During the morning session, prices moved with weak, sideways fluctuations within a small range. By the close, the main Shanghai zinc contract fell by 30 yuan/ton, down 0.12%. Today’s spot market transactions were relatively steady; zinc’s downside was limited, while absolute prices remained relatively high. During the day, downstream companies mostly took goods on demand, with purchases relatively limited. Today, holders were heard offering around +30 versus the average price, while domestic discounts versus the market were maintained at around -50. (SHMET)
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