Guangdong zinc: Downstream makes small just-in-time procurement, spot premiums edge up [SMM midday comment]

Published: Sep 23, 2026 11:59 (GMT+8)

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[Guangdong: Downstream users made small just-in-time procurement, spot premiums edged up] Guangdong 0# zinc was mainly traded at 26,635-26,725 yuan/mt, mainstream brands were quoted at a discount of 45-15 yuan/mt against the 2611 contract, at a premium of 15 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread remained flat...

SMM, September 23: Guangdong #0 zinc mainly traded at 26,635-26,725 yuan/mt, with mainstream brands quoted at a discount of 45-15 yuan/mt against the 2611 contract and a premium of 15 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread remained flat. Today, suppliers quoted discounts of 45-15 yuan/mt for Qilin, Mengzi, Danxia, and Anning. Refined zinc purchasing sentiment in Guangdong stood at 1.88, while sales sentiment was 2.65. Today, the zinc price center pulled back slightly, with some downstream purchases made ahead of the Mid-Autumn Festival and National Day holidays. Meanwhile, arrivals in Guangdong have been limited recently, and traders held firm quotes, causing spot premiums to edge up.

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