Shanghai Metals Market: Zinc prices fall within a range; spot quotes continue to rise

Today, Shanghai Metals Market spot 0#锌24490-24590元/吨,均价24540元/吨,较上一交易日下跌20元/吨,对沪锌2608合约报贴水70-升水30元/吨;1# at 24,420-24,520 yuan/ton, with an average price of 24,470 yuan/ton, down 20 yuan/ton from the previous trading day. For the SHFE zinc 2608 contract, it is quoted at a discount of 140 to a discount of 40 yuan/ton. Zinc prices continue to see a weak pullback from high levels. As of the morning close, the SHFE zinc main contract fell 65 yuan/ton, down 0.26%. Zinc prices are fluctuating and pulling back, and downstream buyers are making purchases at lower prices. Sellers’ available quotes appear to be reducing. The spot tightness and price-support sentiment remains sustained. During the day, traders quoted around the average plus 50, further higher than yesterday. The discount of domestic zinc ingots to the 08 contract has narrowed to around 20, and the narrowing trend appears to be slowing. (SHMET)
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