Guangdong Zinc Market: Trading Sentiment Recovers

The mainstream transaction price of 0# zinc in Guangdong was 24,170-24,370 yuan/mt. Mainstream brands quoted spot discounts of 165-185 yuan/mt against the 2407 contract and spot premiums of 20 yuan/mt against Shanghai prices. In the first time period, sellers quoted premiums of 10-20 yuan/mt for brands like Qilin, Huize, and Mengzi. In the second time period, Qilin and Mengzi quoted spot discounts of 165-185 yuan/mt against the SHFE zinc price. Trading sentiment recovered, sellers' sentiment to hold prices firm increased, and the available spot inventory in warehouses was expected to be tight, leading sellers to hold back.