Guangdong Zinc: Sluggish Spot Consumption, Sluggish Market [SMM Midday Review]

Published: Feb 17, 2025 11:54

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[Guangdong Zinc: Sluggish Spot Consumption, Quiet Market] SMM February 17: The mainstream transaction price of Guangdong #0 zinc was 23,520-23,845 yuan/mt. Mainstream brands quoted a premium of 50-20 yuan/mt over the 2503 contract and a spot discount of 50 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained...

SMM February 17 News: Guangdong 0# zinc mainstream transactions were at 23,520-23,845 yuan/mt. Mainstream brands quoted a premium of 50-20 yuan/mt against the 2503 contract and a spot discount of 50 yuan/mt against Shanghai. The Shanghai-Guangdong price spread remained stable. In the first session, suppliers quoted a discount of 50-20 yuan/mt for Qilin, Mengzi, and Lan zinc. In the second session, Qilin was quoted at a discount of 45 yuan/mt against the online price. Overall, the futures market declined today, but downstream orders showed no improvement, and the overall market trading atmosphere was sluggish. Some traders paused shipments in response to low premiums, waiting for better opportunities, while others reduced premiums to facilitate sales. Currently, spot transactions in the market are relatively weak, and a recovery in consumption will take time.

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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