SHANGHAI, Mar 23 (SMM) – Trading in China's zinc spot market was flat on Friday March 23 as sellers destocked actively while downstream consumers mostly purchased as needed, SMM learned.
In the Shanghai market, 0# zinc traded at 24,670-24,780 yuan/mt. The SHFE 1804 contract rebounded before closing and both the 0# common brand and Shuangyan brand traded flat to a premium of 20 yuan/mt against the contract. This compared with a discount of 50-30 yuan/mt on Thursday March 22. 1# zinc traded at 24,620-24,730 yuan/mt at noon on Friday March 23.
Transactions of 0# zinc in the Guangdong market were heard at 24,600-24,650 yuan/mt, around 100 yuan/mt lower than the spot market in Shanghai. The price gap is 30 yuan/mt wider than Thursday March 22.
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