SHANGHAI, Jun. 23 (SMM) - Spot premiums on #0 zinc in Guangdong shrank from 800 yuan per tonne early in the week to 100 yuan per tonne on June 23. Premiums over Shanghai inverted from 200 yuan per tonne to discounts of 250 yuan per tonne over Shanghai prices, SMM data showed.
Inflows of imported zinc weighed down domestic zinc prices. Meanwhile, cash tightness allowed traders to sell actively but purchase modestly. This led to big drop in premiums in Guangdong, SMM said.
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