Guangdong Zinc: Futures Market Rises While Downstream Consumption Lacks Enthusiasm [SMM Midday Review]

SMM February 12 News: The mainstream transaction price of Guangdong 0# zinc was 23,565-23,875 yuan/mt, with mainstream brands quoting a premium of -5 to 30 yuan/mt against the 2503 contract and a spot discount of 30 yuan/mt against Shanghai. The Shanghai-Guangdong price spread widened. In the first session, suppliers quoted premiums of -5 to 30 yuan/mt for Qilin, Mengzi, and Lan zinc. In the second session, Qilin and Mengzi quoted premiums of 5 to 30 yuan/mt against the online price. Overall, current consumption vitality in Guangdong has not yet emerged, with consumption enthusiasm significantly lacking. Traders faced difficulties in selling, but due to the general increase in long-term contract prices this year, there was limited room for price adjustments. Meanwhile, with the futures market rising today, spot transactions were moderate.