Guangdong Zinc: Downstream Gradually Resumes Production, Transactions Slightly Rebounded Today [SMM Midday Review]

SMM February 10 News: Mainstream transactions of Guangdong #0 zinc were at 23,720-23,910 yuan/mt. Mainstream brands quoted a premium of 15-40 yuan/mt against the 2503 contract and a discount of 10 yuan/mt against Shanghai spot cargo, with the Shanghai-Guangdong price spread narrowing. In the first session, suppliers quoted a premium of 15-40 yuan/mt for Qilin, Mengzi, and Lan zinc. In the second session, Qilin quoted a premium of 20-40 yuan/mt against the online price. Overall, Guangdong inventory continued to increase, and downstream enterprises gradually resumed operations. As a result, some traders have been replenishing inventory recently to meet downstream demand. Market transactions improved today, and premiums are expected to rise further as enterprises resume production.