SHANGHAI, May 11 (SMM) – Buyers in the spot zinc market in China showed a preference over lower-priced imported materials amid sufficient supply on Friday May 11, SMM learned.
Trading liquidity was flat from the previous day as most downstream customers purchased on demand without stockpiling intention. In addition, some smelters were reluctant to let go cargoes at a lower price.
In Shanghai, #0 zinc mostly traded at 23,820-23,880 yuan/mt. Both 0# common brands and 0# Shuangyan were offered at a premium of 50-60 yuan/mt over the SHFE 1806 contract. The premiums fell from the previous day but at a slower rate.
In Guangdong, #0 zinc mostly traded at 23,750-23,800 yuan/mt. The Guangdong-Shanghai price spread stayed at 30 yuan/mt, flat from Thursday. Cargoes mostly traded flat to a premium of 20 yuan/mt over the SHFE 1806 contract, down 10 yuan/mt from the previous day.
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