Guangdong Zinc: Futures Center Rises, Spot Premiums Lack Upward Momentum [SMM Midday Comment]

Published: Jul 15, 2026 13:09

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[Guangdong: Futures Center Rises, Spot Premiums Lack Upward Momentum] In Guangdong, mainstream 0# zinc trades were at 24,705-24,795 yuan/mt, mainstream brands quoted discounts of 105-85 yuan/mt against the 2608 contract and a discount of 50 yuan/mt against Shanghai spot zinc, and the Shanghai-Guangdong price spread widened...

SMM News, July 15: Guangdong #0 zinc traded mainly at 24,705-24,795 yuan/mt, with mainstream brands quoted at discounts of 105-85 yuan/mt against the 2608 contract and a discount of 50 yuan/mt against Shanghai spot cargo, widening the Shanghai-Guangdong price spread. Suppliers offered Qilin, Mengzi, Danxia, and Anning at discounts of 105-85 yuan/mt. Today, the purchase sentiment for refined zinc in Guangdong stood at 1.9 and the sales sentiment at 2.5. The zinc price center moved higher. After the futures rose, downstream purchase willingness was insufficient, and overall transactions did not improve from yesterday. Currently, actual market demand is weak, downstream consumption is sluggish, the procurement pace is slow, and transactions were mainly just-in-time procurement by downstream players.

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