Guangdong Zinc Market: Poor Downstream Consumption amid Higher SHFE Zinc Price

The mainstream transaction prices for 0# zinc in Guangdong were 24,640-25,150 yuan/mt, with mainstream brands quoting a discount of 135-145 yuan/mt for the 2407 contract and a premium of 10 yuan/mt for Shanghai spot prices, narrowing the Shanghai-Guangdong price spread. Initially, sellers quoted brands like Qilin, Huize, and Mengzi with a premium of 10 yuan/mt. In the second session, Qilin and Mengzi had a discount of 125-135 yuan/mt. As prices continued to rise, downstream consumption was poor. Sellers were not eager to sell, and some held firm on prices, resulting in poor overall market transactions.