Guangdong Zinc Market: Price Decline Boosts Spot Premiums/Discounts

【Guangdong Zinc: Zinc Price Center Declined, Spot Premiums/Discounts Rose】

SMM March 31 Report:

The mainstream transaction price of Guangdong 0# zinc was 23,340-23,630 yuan/mt. The mainstream brands quoted a premium of 5 yuan/mt against the 2505 contract and a discount of 30 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened. In the first session, suppliers quoted premiums of 5-25 yuan/mt for Qilin, Mengzi, Feilong, and Lanzinc. In the second session, Qilin and Mengzi quoted premiums of 20-25 yuan/mt against the online price. Overall, the futures market declined today. Downstream restocking increased at low prices, driving spot trades to improve. Downstream made purchases at fixed prices. The price decline and improved transactions led traders to slightly raise premiums, and spot premiums/discounts rose.