Guangdong Zinc: Downstream just-in-time procurement, spot premiums maintained a fluctuating trend [SMM Midday Review]

Published: Jul 29, 2026 13:32

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[Guangdong: Downstream Just-in-Time Procurement, Spot Premiums Maintain Fluctuating Trend] Guangdong 0# zinc was mainly traded at 24,645-24,680 yuan/mt, with mainstream brands quoting discounts of 100-40 yuan/mt against the 2609 contract and a discount of 60 yuan/mt against Shanghai spot zinc; the Shanghai-Guangdong price spread widened...

SMM, July 29: Guangdong #0 zinc was mainly traded at 24,645-24,680 yuan/mt, with mainstream brands quoted at discounts of 100-40 yuan/mt against the 2609 contract and at a discount of 60 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. Today, suppliers quoted discounts of 100-40 yuan/mt for brands such as Qilin, Mengzi, Danxia, and Anning. The purchasing sentiment for refined zinc in Guangdong was 1.92, and the sales sentiment was 2.5. Zinc prices fluctuated at highs, and downstream enterprises mostly purchased on rigid demand. Market trading was sluggish. Spot premiums lacked upward momentum and maintained a fluctuating trend.

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