Guangdong Zinc: More Traders Closing Accounts, Overall Transactions Average [SMM Midday Review]

Published: Dec 30, 2024 12:02

Save

[Guangdong Zinc: Increased Account Closures by Traders, Overall Transactions Remain Average] SMM, December 30: The mainstream transaction prices of Guangdong 0# zinc were 25,740-25,940 yuan/mt. Mainstream brands quoted a premium of 510-535 yuan/mt against the 2502 contract and a spot discount of 130 yuan/mt against Shanghai. The Shanghai-Guangdong price spread narrowed. Initially, suppliers quoted a premium of 510-535 yuan/mt for Qilin, Mengzi, and Feilong...

SMM reported on December 30: The mainstream transaction price of Guangdong 0# zinc was 25,740-25,940 yuan/mt. Mainstream brands quoted a premium of 510-535 yuan/mt against the 2502 contract and a discount of 130 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted a premium of 510-535 yuan/mt for Qilin, Mengzi, and Feilong. As the year-end approached, more traders closed their accounts, and fewer traders were active in the market. In the second session, Qilin and Feilong were quoted at a premium of 525 yuan/mt against the online price. Currently, zinc prices fluctuated at highs, downstream made just-in-time procurement, the price spread between futures contracts narrowed today, and market transactions were moderate with premiums slightly declining.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

7 hours ago

US Dollar Index Remains High, Continuing to Pressure LME Zinc as Price Center Shifts Lower [SMM Zinc Morning Meeting Summary]

[SMM Zinc Morning Meeting Summary: US Dollar Index Remains High, Pressuring LME Zinc Center Lower]: Overnight, LME zinc opened at $3,798.5/mt. After the open, LME zinc consolidated around the daily average. In the afternoon session, LME zinc drifted lower, hitting a low of $3,734/mt, then rebounded in a choppy fashion, reaching a high of $3,835/mt near the close, and finally settled up at $3,831.5/mt, up $27/mt, or 0.71%...

7 hours ago

Fundamentals show both bullish and bearish factors, SHFE zinc continues to consolidate [SMM zinc morning comment]

[SMM Zinc Morning Comment: Both Bullish and Bearish Factors Exist in Fundamentals, SHFE Zinc Continues to Consolidate] Overnight, the most-traded SHFE zinc 2611 contract opened at 26,220 yuan/mt, initially touching a high of 26,290 yuan/mt, then drifting lower after the open, hitting a low of 26,025 yuan/mt during the session, before rebounding from the low to near the daily average, and finally closing up at 26,170 yuan/mt, up 25 yuan/mt, or 0.1%, with trading volume increasing to 56,441 lots.

7 hours ago

22 hours ago

[Zinc Weekly Review] SHFE Zinc Rebounds from Lows as Tight Ore Supply Offsets Pressure from US Fed Rate Hike Expectations and Weaker LME

[Expectations for US Fed interest rate hikes and a weaker LME pressured SHFE zinc, while ore supply tightness supported a rebound from lows] The SHFE zinc 2611 contract opened at 26,180 yuan/mt in the daytime session, edged up to 26,200 yuan/mt in early trading, then pulled back to a low of 26,005 yuan/mt. After rebounding from the low, it moved sideways in a narrow range and closed at 26,145 yuan/mt, down 65 yuan/mt, or 0.25%. Trading volume decreased to 47,162 lots, and open interest fell by 3,474 lots to 123,000 lots......

22 hours ago