Guangdong Zinc: Spot Zinc Supply Tightens, Premiums and Discounts Rise [SMM Midday Review]

SMM April 24:

       The mainstream transaction price of 0# zinc in Guangdong was 22,970-23,135 yuan/mt. The mainstream brands quoted a premium of 465 yuan/mt against the 2506 contract, on par with Shanghai spot, and the Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted premiums of 475-535 yuan/mt for Qilin, Mengzi, Huize, and Feilong. In the second session, Mengzi and Lanxin quoted premiums of 505-535 yuan/mt against the online price. Overall, some traders in Guangdong had limited spot cargo, and some brands reported higher premiums. The futures market experienced volatile trading today, and the market atmosphere was moderate.