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

Published: Dec 30, 2024 12:02

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[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.

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