During the Week, Downstream Purchasing Enthusiasm Was Insufficient, and Guangdong Spot Premiums Gradually Declined [SMM Guangdong Spot Weekly Review]

Published: Jul 3, 2026 16:19

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[Downstream Purchasing Interest Tepid During the Week as Guangdong Spot Premiums Trended Lower] This week, premiums in Guangdong rose 20 yuan/mt WoW. As of Friday, mainstream #0 zinc in Guangdong was quoted at discounts of 70-100 yuan/mt against the market, and the Shanghai-Guangdong price spread widened......

Guangdong spot premiums rose 20 yuan/mt WoW this week. As of this Friday, mainstream #0 zinc in Guangdong was quoted at discounts of 100-70 yuan/mt against the market, and the Shanghai-Guangdong price spread widened. Late last week, falling prices drove premiums higher, but zinc prices started to rebound this week, weakening the purchasing enthusiasm of downstream enterprises, causing spot premiums to gradually fall. Looking ahead to next week, Guangdong spot supply is sufficient. Downstream enterprises have already priced at low levels earlier, and long-term contract deliveries have arrived at the beginning of the month, so enterprises hold some inventory. Amid high-level consolidation of zinc prices, premiums are expected to continue fluctuating within the discount range.

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