Guangdong Zinc: Market Has Certain Wait-and-See Sentiment, Spot Premiums Consolidate at Lows [SMM Midday Review]

SMM, July 14 – Guangdong 0# zinc traded at 24,510-24,630 yuan/mt, with mainstream brands quoted discounts of 115-95 yuan/mt against the 2608 contract and discounts of 40 yuan/mt against Shanghai spot cargo, widening the Shanghai-Guangdong price spread. Suppliers offered discounts of 115-95 yuan/mt for Qilin, Mengzi, and Feilong brands. Refined zinc purchasing sentiment in Guangdong was 2 and sales sentiment was 2.52 today. The zinc price center pulled back, but the overall price continued to consolidate at highs. Some producers were not enthusiastic about shipments due to low premiums and discounts, while end-users mostly maintained just-in-time procurement or consumed in-factory inventories. Overall, the wait-and-see sentiment was strong, and procurement enthusiasm was also low.