Guangdong Zinc: Futures Market Declined Today, Spot Premiums Rose [SMM Midday Review]

SMM January 7 News: Mainstream transactions of Guangdong #0 zinc were at 25,160-25,545 yuan/mt, with mainstream brands quoting spot premiums of 635-665 yuan/mt against the 2502 contract and spot premiums of 80 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. In the first session, suppliers quoted premiums of 635-665 yuan/mt for Qilin, Mengzi, and Lan zinc. Currently, spot availability in the Guangdong market has decreased, while downstream demand remains steady, pushing premiums higher. In the second session, Qilin was quoted at premiums of 640-650 yuan/mt against the online price. Overall, zinc prices fell today, prompting downstream restocking at lower prices. However, limited spot availability led to moderate overall transactions.