Guangdong Zinc: Contract Rollover in Guangdong Today, Overall Market Transactions Were Average [SMM Midday Review]

SMM February 18 News: Mainstream transactions of Guangdong #0 zinc were at 23,790-23,950 yuan/mt. Mainstream brands quoted spot discounts of 30-10 yuan/mt against the 2504 contract and spot discounts of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted discounts of 30-10 yuan/mt for Qilin, Mengzi, Feilong, and Lan zinc. In the second session, Qilin and Mengzi were quoted at discounts of 30 yuan/mt against the online price. Overall, Guangdong region rolled over to the 2504 contract today. Spot cargoes of certain brands were relatively scarce in the market, leading to an increase in premiums. Meanwhile, downstream consumption by some traders slightly improved, resulting in slightly better transactions, though overall performance remained average. Spot premiums and discounts in Guangdong region rose slightly today.