Gaosheng Underwater Traders Face Difficulties in Selling Cargo, with Guangdong Premium Expected to Gradually Decline in the Future [SMM Guangdong Spot Cargo Weekly Review]

SMM, May 9: This week, premiums and discounts in Guangdong region rose, increasing by 45 yuan/mt WoW. As of Friday this week, the mainstream 0# zinc quotations in the Guangdong market were at premiums of 450~520 yuan/mt over the market. The Shanghai-Guangdong price spread remained on parity. Although the center of zinc prices declined this week, downstream purchase willingness was low. Enterprises with stocking demand mostly conducted small-scale purchases on the first day of work to replenish their inventory. Meanwhile, spot premiums/discounts in the market remained relatively high, posing a certain obstacle to downstream stocking enthusiasm. Currently, traders report that downstream consumption in Guangdong is relatively weak, and the market is gradually entering an off-season for active consumption. It is expected that spot premiums/discounts in Guangdong will decline slightly amid weak trading activity.

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