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

Published: Oct 23, 2026 13:17 (GMT+8)

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[Guangdong: Zinc price center moves lower, downstream buyers buy the dip] Guangdong 0# zinc was mainly traded at 25,280-25,420 yuan/mt, with mainstream brands quoted at premiums of 15-55 yuan/mt against the 2612 contract, a premium of 5 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread remained...

SMM, October 23: Guangdong 0# zinc mainly traded at 25,280-25,420 yuan/mt, with mainstream brands quoted at premiums of 15-55 yuan/mt against the 2612 contract and a premium of 5 yuan/mt against Shanghai spot, keeping the Shanghai-Guangdong price spread stable. Today, suppliers quoted premiums of 15-55 yuan/mt for Qilin, Danxia, Anning, and Lan zinc. The purchase sentiment for refined zinc in Guangdong was 2.04, while the sales sentiment was 2.57. Today, the zinc price center moved lower, some traders slightly raised their quotes, and downstream users engaged in some dip-buying to restock, driving premiums to edge up.

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