Guangdong zinc: Market activity turned weaker, spot premiums stable [SMM midday comment]

SMM, September 30: Guangdong 0# zinc was mainly traded at 26,425-26,515 yuan/mt, with mainstream brands quoted at discounts of 55-25 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 55-25 yuan/mt for brands such as Qilin, Mengzi, Danxia, and Feilong. Refined zinc purchasing sentiment in Guangdong stood at 1.7, while sales sentiment was 2.4. On the last day before the holiday, spot market activity weakened, with fewer traders selling, while most downstream buyers in Guangdong were about to enter the National Day holiday, leading to lower purchasing interest. Spot premiums remained steady.