Guangdong Zinc: Prices Consolidate at Highs, Downstream Just-in-Time Procurement [SMM Midday Review]

Published: Jul 28, 2026 11:57

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[Guangdong: Prices Consolidate at Highs, Downstream Just-in-Time Procurement]Guangdong 0# zinc traded mainly at 24,650~24,720 yuan/mt, major brand quotations against the 2609 contract were -120~-70 yuan/mt, at a discount of 55 yuan/mt against Shanghai spot, and the Shanghai-Guangdong price spread was flat...

SMM, July 28: Guangdong 0# zinc traded at 24,650~24,720 yuan/mt. Mainstream brand quotations against the 2609 contract were -120~-70 yuan/mt, and against Shanghai spot cargo were -55 yuan/mt. The Shanghai-Guangdong price spread was flat. Today, suppliers quoted Qilin, Mengzi, Danxia, and Anning at discounts of 120~70 yuan/mt; the purchasing sentiment for refined zinc in Guangdong was 1.92, and the selling sentiment was 2.53. Zinc prices continued to consolidate at highs, end-use demand was rather subdued, downstream purchasing enthusiasm was low, and market transactions mostly maintained just-in-time needs. Spot premiums were unchanged from yesterday.

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