Guangdong Zinc: Spot Supply of Some Brands Tightens, Premiums in Guangdong Rise [SMM Midday Commentary]

Published: Oct 19, 2026 11:53 (GMT+8)

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[Guangdong: Spot supply of some brands tightens, Guangdong premiums rise] Guangdong #0 zinc was mainly traded at 25,560-25,670 yuan/mt, with mainstream brands quoted at a discount of 10 yuan/mt to a premium of 55 yuan/mt against the 2612 contract, a discount of 10 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread narrowed...

SMM, October 19: Guangdong 0# zinc was mainly traded at 25,560-25,670 yuan/mt, with mainstream brands quoted at a discount of 10 yuan/mt to a premium of 55 yuan/mt against the 2612 contract, and at a discount of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed. Today, suppliers quoted Qilin, Mengzi, Danxia, Anning, Feilong, and Lan zinc at a discount of 10 yuan/mt to a premium of 55 yuan/mt. The purchasing sentiment for refined zinc in Guangdong was 1.98, and the sales sentiment was 2.53. Recently, supply of some brands in the spot market has been tight, Guangdong inventory has continued to decline, and market quotes have remained firm, supporting spot premiums to move higher.

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