Guangdong Zinc: Downstream Gradually Goes on Holiday, Market Transactions Sluggish [SMM Midday Review]

Published: Jan 20, 2025 12:03 (GMT+8)

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[Guangdong Zinc: Downstream Gradually Goes on Holiday, Sluggish Market Transactions] SMM January 20: The mainstream transaction prices of Guangdong 0# zinc were 24,140-24,465 yuan/mt, with mainstream brands quoting a premium of 30-100 yuan/mt against the 2503 contract and a spot discount of 60 yuan/mt against Shanghai. The price spread narrowed. Initially, suppliers quoted a premium of 30-100 yuan/mt for Qilin and Mengzi...

SMM January 20: Mainstream transactions of Guangdong 0# zinc were at 24,140-24,465 yuan/mt. Mainstream brands quoted a premium of 30-100 yuan/mt against the 2503 contract and a discount of 60 yuan/mt against Shanghai spot. The price spread between contracts narrowed. In the first session, suppliers quoted a premium of 30-100 yuan/mt for Qilin and Mengzi brands. In the second session, Qilin and Mengzi quoted a premium of 30 yuan/mt against the online price. Overall, although zinc prices showed a downward trend today, they remained relatively high compared to earlier periods. Meanwhile, downstream end-users were on holiday, further weakening market demand, and spot trades were sluggish. The price spread between futures contracts narrowed today, but mainstream quotations were relatively unchanged from Friday, and spot premiums remained stable.

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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