SHANGHAI, Mar 1 (SMM) – More active zinc trading was seen in Guangdong province and Shanghai on Thursday March 1 as sellers offered bigger discounts, SMM learned. Trading in Tianjin was stable.
The 0# common brand zinc was trading at 26,220-26,280 yuan/mt in Guangdong, which translated to a discount of 180-160 yuan/mt against the SHFE 1804 zinc contract. The discounts went deeper compared with a day earlier.
In the Shanghai market, transactions were heard at 26,220-26,320 yuan/mt. The discounts, at 150-120 yuan/mt, were 20 yuan/mt deeper than the previous day. The overall trading volume was slightly higher as smelters were keen to destock.
In Tianjin, transactions were reported at 26,380-26,620 yuan/mt. The discounts were similar to the level seen a day earlier at 50 yuan/mt to flat.
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