Guangdong zinc: Market transactions weakened, spot premiums declined [SMM midday commentary]

Published: Sep 24, 2026 13:16 (GMT+8)

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[Guangdong: Market Transactions Weakened, Spot Premiums Declined] SMM, September 24: Mainstream transactions of 0# zinc in Guangdong were at 26,675-26,815 yuan/mt, with mainstream brands quoted at a discount of 40-30 yuan/mt against the 2611 contract, a premium of 15 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread remained flat...

SMM, September 24: Guangdong 0# zinc was mainly traded at 26,675-26,815 yuan/mt, with mainstream brands quoted at a discount of 40-30 yuan/mt against the 2611 contract, and at a premium of 15 yuan/mt against Shanghai spot, leaving the Shanghai-Guangdong price spread unchanged. Today, suppliers quoted Qilin, Mengzi, Danxia, and Anning at a discount of 40-30 yuan/mt. The purchase sentiment for refined zinc in Guangdong was 1.8, while the sales sentiment was 2.6. As zinc price center moved higher, traders faced sluggish shipments, and downstream enterprises had already made point-price purchases recently. Overall market transactions were weak today, and spot premiums declined.

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