Guangdong zinc: Market wait-and-see sentiment grows, spot premiums stable [SMM midday commentary]

Published: Oct 12, 2026 11:51 (GMT+8)

Save

[Guangdong: Market Caution Emerges, Spot Premiums Stable] Guangdong 0# zinc was mainly traded at 26,170-26,240 yuan/mt, with mainstream brands quoted at a discount of 30 yuan/mt to a premium of 10 yuan/mt against the 2611 contract, and at a discount of 20 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread remained...

October 12 news: Guangdong 0# zinc mainly traded at 26,170-26,240 yuan/mt, mainstream brands quoted at a discount of 30 yuan/mt to a premium of 10 yuan/mt against the 2611 contract, and at a discount of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. Today, suppliers quoted discounts of 30 yuan/mt to premiums of 10 yuan/mt for brands such as Qilin, Mengzi, Danxia, Anning, and Lanzinc. Refined zinc purchasing sentiment in Guangdong was 1.8, and sales sentiment was 2.5. Today, the zinc price center moved higher, downstream buyers became more cautious and hesitant at high prices, purchasing enthusiasm pulled back, and traders found it harder to sell, but market quotes remained firm, with spot premiums holding steady.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

Images in this article contain AI-translated captions for reference only.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Tianjin Zinc: Futures Rise, Downstream Stays on Sidelines [SMM Midday Commentary]

[Tianjin Zinc: Futures Rise, Downstream Mostly Wait-and-See] In the Tianjin market, mainstream transactions for #0 zinc ingot were at 26,140-26,340 yuan/mt, with Zijin transactions at 26,320-26,420 yuan/mt. Transactions for #1 zinc ingot were around 26,050-26,160 yuan/mt. Zijin was quoted at a premium of around 150 yuan/mt against the 2611 contract, while Huxin was quoted at 27,710 yuan/mt. #0 zinc ingot was quoted at a premium of 70 yuan/mt to a discount of 30 yuan/mt against the 2611 contract. The Tianjin market was quoted at a discount of around 20 yuan/mt against the Shanghai market.

1 hour ago

Shanghai Zinc: Futures Rebound Weighs on Downstream Purchase Willingness, Spot Trades Weaken MoM [SMM Midday Commentary]

[Shanghai Zinc: Futures Rebound Weighs on Downstream Purchase Willingness, Spot Trades Weaken MoM] Today, mainstream transaction prices for #0 zinc were concentrated at 26,240-26,350 yuan/mt, with no trades reported for Shuangyan. Mainstream transactions for #1 zinc were at 26,170-26,280 yuan/mt. In early trading, quotes against the SMM average price stood at a premium of 70-80 yuan/mt, with no quotes against futures yet...

1 hour ago

Ningbo zinc: Traders continue to raise offers, spot trades weaken [SMM midday comment]

[Ningbo Zinc: Traders Continue to Raise Offers, Spot Trades Weaken] Mainstream brand 0# zinc traded at around 26,190-26,280 yuan/mt in the Ningbo market. Conventional brands in Ningbo were quoted at a premium of 20 yuan/mt against the 2611 contract and a premium of 30 yuan/mt against Shanghai spot cargo. Mainstream quotes in Ningbo were primarily against the 2611 contract.

1 hour ago