Guangdong Zinc: High Prices Continue to Affect Guangdong Demand, Market Transactions Mostly Rigid Demand [SMM Midday Commentary]

Published: Sep 9, 2026 11:57

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[Guangdong: High prices continue to affect demand in Guangdong, with market transactions mostly driven by rigid demand] Mainstream transactions of Guangdong 0# zinc were at 27,265-27,410 yuan/mt, with mainstream brands quoted at a discount of 90-80 yuan/mt against the 2610 contract, a premium of 10 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread remained...

SMM News on September 9: Mainstream transactions of Guangdong 0# zinc were concluded at 27,265-27,410 yuan/mt. Mainstream brands were quoted at a discount of 90-80 yuan/mt against the 2610 contract, and at a premium of 10 yuan/mt against Shanghai spot premiums, with the Shanghai-Guangdong price spread holding steady. Today, suppliers offered discounts of 90-80 yuan/mt for Qilin, Mengzi, Danxia, Anning, and Feilong. Today, refined zinc procurement sentiment in Guangdong stood at 1.63, and sales sentiment at 2.35. Today, zinc prices still fluctuated at high levels above 27,000 yuan/mt. Spot transactions in the Guangdong market were subdued, and downstream enterprises were also seeing weak orders under the impact of high prices, with low purchasing enthusiasm and more wait-and-see sentiment in the market.

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