Guangdong zinc: Market transactions were average, spot premiums remained flat from yesterday [SMM midday review]

SMM, September 22: Guangdong 0# zinc mainly traded at 26,635-26,725 yuan/mt, with mainstream brands quoted at a discount of 50-20 yuan/mt against the 2611 contract and a premium of 15 yuan/mt against Shanghai spot, leaving the Shanghai-Guangdong price spread flat. Today, suppliers quoted discounts of 50-20 yuan/mt for brands such as Qilin, Mengzi, and Anning. Refined zinc purchasing sentiment in Guangdong stood at 1.85, while sales sentiment was 2.69. Recently, more traders have been selling in the market, warrant circulation has increased, and quotes have remained relatively firm. However, futures remain high, and downstream purchasing enthusiasm is weak at these elevated prices, resulting in ordinary spot market transactions.