Prices Pulled Back This Week, Guangdong Spot Market Activity Picked Up [SMM Guangdong Weekly Spot Aluminum Review]

This week, premiums in Guangdong increased WoW by 15 yuan/mt. As of Friday this week, mainstream #0 zinc in Guangdong was quoted at a discount of 35-25 yuan/mt against the market, and the Shanghai-Guangdong price spread remained stable. Early this week, zinc prices fluctuated at highs, while downstream users maintained just-in-time procurement, leading to light trading. Toward the weekend, zinc prices declined notably, prompting end-users to increase point-price purchases, and purchasing sentiment rebounded. Overall, current downstream activity is dominated by just-in-time procurement and restocking on dips, with market activity clearly influenced by price movements. Next week, with the contract rollover in Guangdong, premiums are expected to be pressured downward under the contango structure.