Guangdong Zinc: Zinc Prices Continue to Decline, Spot Premiums Rise Slightly [SMM Midday Review]

SMM February 26 News: Guangdong 0# zinc was mainly traded at 23,495-23,615 yuan/mt, with mainstream brands quoted at a discount of 30 yuan/mt against the 2504 contract and a discount of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. In the first trading session, suppliers quoted discounts of 20-10 yuan/mt for Qilin, Mengzi, Huize, and Lan zinc. In the second session, Qilin, Mengzi, and Lan zinc were quoted at discounts of 30-10 yuan/mt against the online price. Overall, the futures market continued to edge lower compared to yesterday. Downstream buyers made small purchases at low prices, with overall transactions showing little difference from yesterday. Spot premiums continued to rise today. However, according to feedback from traders and downstream buyers, recent purchases were mostly for restocking at low prices, while actual downstream consumption remained relatively moderate.