Guangdong Zinc: Futures Consolidate at Highs, Market Just-in-Time Procurement [SMM Midday Comment]

Published: Jul 13, 2026 13:09

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[Guangdong Zinc: Futures Consolidate at Highs, Market Just-in-time Procurement] Mainstream transactions of Guangdong #0 zinc were concluded at 24,595-24,750 yuan/mt, with mainstream brands quoted at discounts of 115-85 yuan/mt against the 2608 contract, and at a discount of 35 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened...

SMM July 13: Guangdong #0 zinc mainstream transactions were at 24,595-24,750 yuan/mt. Mainstream brands were offered at discounts of 115-85 yuan/mt against the 2608 contract, with a discount of 35 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread widened. Suppliers offered discounts of 115-85 yuan/mt for Qilin, Mengzi, Danxia, Anning, and Feilong. Today, Guangdong's refined zinc buying sentiment was 1.98, while the selling sentiment was 2.52. Zinc prices continued to stay high and fluctuate today. The overall trading atmosphere in the spot market was sluggish. Insufficient terminal orders led to relatively negative buying sentiment among many downstream enterprises. Market purchases were mostly driven by rigid demand. Spot premiums remained flat compared with last Friday.

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