Guangdong Zinc: Zinc Price Center Moves Lower, Downstream Shows Dip-Buying [SMM Midday Commentary]

SMM, October 13: In Guangdong, 0# zinc was mainly traded at 25,745-25,940 yuan/mt, with mainstream brands quoted at a discount of 10 yuan/mt to a premium of 10 yuan/mt against the 2611 contract, and at a discount of 30 yuan/mt against spot in Shanghai. The Shanghai-Guangdong price spread widened. Today, suppliers quoted prices for brands such as Qilin, Mengzi, Anning, Feilong, and Lanxin at a discount of 10 yuan/mt to a premium of 10 yuan/mt. In Guangdong, the purchase willingness for refined zinc was 1.97, and the sales sentiment was 2.54. Today, the zinc price center moved lower, and some downstream buyers took advantage of the low prices to replenish stocks, driving a certain improvement in spot market transactions. However, some enterprises in the market had already completed purchases at low levels earlier, and a wait-and-see sentiment on further declines persisted, making it difficult for purchase willingness to be sustained.