[SMM afternoon Review] Guangdong Zinc: price rise suppresses demand spot discount pressure expands

SMM7 March 29: Guangdong zinc mainstream trading at 18250-18460 yuan / ton, the price concentrated on the Shanghai zinc 2009 contract discount 20-30 yuan / ton, Guangdong than the Shanghai market discount of 2009 yuan / ton than the previous trading day increased by 10 yuan / ton. In the first trading session, the price is high and fluctuating, the downstream is more wait-and-see and less pick-up, the shippers are relatively active, and the traders receive an appropriate amount of discounts. Kirin, Mengzi, Huize and Tiefeng offer a discount of 10-20 yuan / ton for the September contract of Shanghai zinc. In the second trading session, futures prices strengthened again, with the main contract approaching 18500 yuan / ton. the price rise led to even worse purchasing demand downstream, and the unsmooth shipments of consignors continued to reduce rising water shipments. On the whole, in the process of rising prices, the spot discount pressure increased. Kirin, Mengzi, Huize and Tiefeng offer a discount of 20-30 yuan per ton for the September contract of Shanghai zinc. Kirin, Mengzi, Huize mainstream transactions at 18250-18460 yuan / ton.

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