Zinc Spot Premiums Shrink Sharply in Shanghai and Guangdong, SMM Reports

SHANGHAI, Jun. 13 (SMM) - Spot premiums in Shanghai and Guangdong contracted noticeably on July 13 due to higher zinc futures prices on the Shanghai Futures Exchange (SHFE), SMM reported.

Spot premiums in Shanghai shrank 70-130 yuan per tonne to 20-150 yuan per tonne over August zinc on the SHFE on June 13 from June 12, SMM learns. And those in Guangdong narrowed 60-80 yuan per tonne to 20-60 yuan per tonne.

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Spot premiums in Tianjin were relatively steady, SMM added.

Trading was slack across Shanghai, Tianjin and Guangdong since downstream buyers lacked interest in buying.

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#0 zinc traded mainly in 23,300-23,470 yuan per tonne range in Shanghai on July 13. #0 zinc prices in Guangdong were 23,300-23,350 yuan per tonne and 23,400-24,480 yuan per tonne in Tianjin, SMM data showed.

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