Guangdong Zinc: Trading in the Guangdong spot market was average ahead of the National Day holiday [SMM Midday Commentary]

SMM, September 29: Guangdong 0# zinc was mainly traded at 26,380-26,560 yuan/mt, with mainstream brands quoted at discounts of 50-10 yuan/mt against the 2611 contract and at a discount of 10 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread remained stable. Today, suppliers quoted discounts of 50-10 yuan/mt for brands such as Qilin, Mengzi, Danxia, and Feilong. Refined zinc purchasing sentiment in Guangdong stood at 1.75, while sales sentiment was 2.55. With the holiday approaching, enterprises with stockpiling needs have largely completed their purchases. Spot market trading in Guangdong was moderate today. Although some brands were quoted higher recently, actual transactions were relatively difficult, and spot premiums remained unchanged from yesterday.