【Q1 Guangdong Spot Premiums Plunged—What Lies Ahead?】
Q1 Guangdong spot premiums fell back from highs—what were the reasons?
According to the data, Guangdong spot premiums reached 620 yuan/mt around January 10, marking a two-year high. The reasons mainly include two aspects: firstly, this was primarily influenced by low social inventory; secondly, it was driven by high stocking demand from downstream sectors before the Chinese New Year, which pushed overall market premiums higher. Subsequently, as downstream enterprises gradually went on holiday, market premiums began to plunge and continued to fluctuate at low levels. So, how will Guangdong premiums evolve in the future? This article will analyze from three perspectives: social inventory, downstream consumption, and zinc prices...
