Guangdong Zinc: Few Market Quotations, Festive Atmosphere Prevails [SMM Midday Review]

Published: Jan 27, 2025 11:50

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[Guangdong Zinc: Few Market Quotations Amid Festive Atmosphere] SMM, January 27: The mainstream transaction price of Guangdong #0 zinc was around 23,450-23,590 yuan/mt. Mainstream brands quoted a premium of -20 yuan/mt against the 2503 contract and a premium of 20 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread narrowed...

SMM reported on January 27: The mainstream transaction price of Guangdong 0# zinc was around 23,450-23,590 yuan/mt. Mainstream brands quoted a premium of -20 yuan/mt against the 2503 contract and a premium of 20 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread narrowing. Initially, there were no quotes in the market, and the second trading session maintained the early session's situation. Overall, many suppliers inquired in the market, but as most traders were already on holiday for the Chinese New Year starting tomorrow, there were almost no spot quotes, and trading sentiment was sluggish. The futures market fluctuated today, the price spread between futures contracts slightly narrowed, but due to sluggish market transactions, spot premiums declined.

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