Guangdong Zinc: Mixed Operating Rates in Downstream, Spot Premiums Declined Today [SMM Midday Review]

SMM February 11 News: Guangdong 0# zinc traded mainly at 23,615-23,855 yuan/mt. Mainstream brands quoted a premium of 10-30 yuan/mt against the 2,503 contract and a discount of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. In the first session, suppliers quoted premiums of 10-30 yuan/mt for Qilin, Mengzi, and Lan zinc. In the second session, Qilin and Mengzi quoted premiums of 20-30 yuan/mt against the online price. Overall, the operating conditions of end-user enterprises under various traders varied, leading to slight differences in transaction performance. Zinc prices pulled back slightly today, but constrained by the incomplete recovery of downstream consumption, transactions were relatively moderate.