Guangdong Zinc: Today Guangdong contract rollover quotes, spot zinc trading remained ordinary [SMM Midday Review]

SMM, July 16 – In Guangdong, 0# zinc was mainly traded at 24,440-24,570 yuan/mt, with mainstream brands quoted at discounts of 145-125 yuan/mt against the 2609 contract and a discount of 70 yuan/mt against spot Shanghai; the Shanghai-Guangdong price spread widened. Suppliers quoted discounts of 105-85 yuan/mt for Qilin, Mengzi, Huize, Danxia, Anning, and Feilong brands. Refined zinc purchase sentiment in Guangdong on the day was 1.98, and sales sentiment was 2.55. Guangdong conducted a contract rollover today, with the benchmark contract switching to the 2609 contract. Although the futures center pulled back somewhat during the day, overall end-use demand remained sluggish. Some downstream enterprises had ample inventories, so purchase willingness was weak. The market mainly consumed its own inventories, and premiums consolidated at lows.