Shanghai Metal Market: Zinc prices fluctuate with a slight upward trend, driven by downstream rigid demand.

Today, Shanghai Metal Market spot zinc is at 23,380-23,480 yuan/ton, with an average price of 23,430 yuan/ton, up 80 yuan/ton from the previous trading day. The Shanghai zinc 2604 contract is quoted at a discount of 220- a discount of 120 yuan/ton. Zinc prices maintain a volatile but generally stronger trend; as of the morning close, the main Shanghai zinc contract rose by 35 yuan/ton, up 0.15%. Today, spot market trading is flat; zinc prices are oscillating slightly stronger, but downstream consumption sentiment is limited. Most buyers purchase mainly to meet immediate needs and build inventory on demand. Holders shift their quotes to the 05 contract; domestic tracking is around -100, while the average online price is around +45, with limited fluctuations during the session. (SHMET)

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