Guangdong Premiums and Discounts Decline Significantly, Expected to Remain Under Pressure and Trend Lower Next Week [SMM Guangdong Spot Cargo Weekly Review]

       Premiums and discounts in Guangdong fell about 55 yuan/mt WoW. As of Friday, the mainstream 0# zinc spot was at a discount of 60 yuan/mt in Guangdong, and the Shanghai-Guangdong price spread widened. Although zinc prices pulled back this week, many terminal die-casting and galvanizing plants in Guangdong were on holiday, leading some traders to also take holidays, resulting in sluggish market activity and continued declines in spot premiums/discounts. Next week, more enterprises are expected to go on holiday, with some large traders also planning holidays, and the spot market is expected to become more sluggish, with premiums and discounts likely to continue falling.