Guangdong Zinc: Futures market maintains fluctuating trend, market trading is sluggish [SMM Midday Review]

SMM News on June 16:

        In Guangdong, the mainstream transactions for 0# zinc were concluded at 21,950-22,180 yuan/mt. Mainstream brands were quoted at a premium of 210 yuan/mt against the 2507 contract, and at a discount of 10 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread narrowed. In the first time slot, suppliers quoted a premium of 220-300 yuan/mt for Qilin, Mengzi, Anning, Feilong, and Lanxin brands against the online price. In the second time slot, Qilin, Mengzi, Anning, Feilong, and Lanxin brands were quoted at a premium of 220-240 yuan/mt against the online price. Overall, the futures market maintained a fluctuating trend today. Meanwhile, downstream consumption was sluggish, and enterprises showed low enthusiasm for purchasing. Under these circumstances, traders faced difficulties in selling their goods, so they slightly lowered their premiums to facilitate sales. The market trading atmosphere was sluggish.