Stocks in Guangdong increased further, premiums trended lower

SHANGHAI, Aug 23 (SMM) - #0 zinc in Guangdong was traded at 22,530-22,670 yuan/mt and quoted with premiums of 230-260 yuan/mt over the SHFE 2110 zinc contract. Premiums of Guangdong stood at 40 yuan/mt over Shanghai prices. Price spread between the two places rose 10 yuan/mt from a day ago.

Holders lowered quotations as inventories increased and zinc prices were at a high level, coupled with muted downstream demand. Premiums of Qilin, Mengzi and Huize brands stood at 250-260 yuan/mt over SHFE 2110 zinc contract. In the second trading section, although the cargoes available in the market were sufficient, downstream demand was limited and only a few transactions were reached. Premiums of Qilin, Mengzi and Huize brands stood at 250-260 yuan/mt over SHFE 2110 zinc contract, with Tiefeng at 230 yuan/mt. Brands of Qilin, Mengzi, Huize and Tiefeng were traded at 22,530-22,670 yuan/mt.