Guangdong Zinc: Zinc Prices Declined, Boosting Transactions; Market Premiums Rose Slightly Today [SMM Midday Review]

SMM February 25 News: Guangdong #0 zinc was mainly traded at 23,520-23,680 yuan/mt. Mainstream brands quoted spot discounts of 45 yuan/mt against the 2504 contract and 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted discounts of 55-25 yuan/mt for Qilin, Mengzi, Huize, Danxia, Feilong, and Lan zinc. In the second session, Qilin and Mengzi were quoted at discounts of 30-25 yuan/mt against the online price. Overall, the futures market opened lower with a gap today, boosting downstream interest in pricing-based purchases. Many enterprises restocked at lower prices, increasing buying orders, and the market trading atmosphere slightly improved. Today's reported premiums and discounts in the market also rose slightly compared to yesterday. However, according to feedback from traders, current downstream demand has not fully recovered, and it is expected to take time for a full recovery.