Guangdong Zinc: Spot Sales Face Challenges, Premiums Decline Today [SMM Midday Review]

SMM February 13 News: Guangdong 0# zinc mainstream transactions were at 23,685-23,915 yuan/mt. Mainstream brands quoted spot discounts of 40-10 yuan/mt against the 2503 contract and 20 yuan/mt against Shanghai spot, narrowing the Shanghai-Guangdong price spread. In the first session, suppliers quoted discounts of 40-10 yuan/mt for Qilin, Mengzi, and Lan zinc. In the second session, Qilin and Mengzi were quoted at discounts of 30 yuan/mt against the online price. Overall, the futures market rose today, and most operating end-users restocked at previous low prices. However, downstream consumption has not fully recovered, with weak demand combined with rising prices leading to sluggish spot transactions. Traders faced difficulties in selling, and spot premiums declined today.