Spot #0 zinc was quoted with premiums of 325-380 yuan/mt over SHFE 2307 zinc contract, and discounts in Guangdong stood at 50-100 yuan/mt against Shanghai prices. In the first half of the week, the arrivals of ordinary brands were poor, and spot goods in the hands of the sellers were limited.
They raised prices and premiums of Guangdong against Shanghai prices were relatively high; in the second half of the week, due to the low enthusiasm for downstream purchases, the actual spot trading was sluggish. Most sellers adjusted their prices and spot premiums continued to fall.
Considering that the inventory of zinc ingots has accumulated in a narrow range last week, it is expected that spot premiums may maintain a downward trend this week.