Guangdong Zinc: Futures Market Slightly Up, Overall Downstream Demand Remains Average [SMM Midday Review]

Published: Feb 19, 2025 12:37

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[Guangdong Zinc: Futures Market Slightly Rose, Overall Downstream Demand Remained Moderate] SMM, February 19: The mainstream transaction price of Guangdong 0# zinc was 23,820-24,010 yuan/mt. Mainstream brands quoted a discount of 50-10 yuan/mt against the 2504 contract and a spot premium of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed...

SMM, February 19: Mainstream transactions of Guangdong #0 zinc were concluded at 23,820-24,010 yuan/mt. Mainstream brands quoted a discount of 50-10 yuan/mt against the 2504 contract and a spot premium of 10 yuan/mt against Shanghai. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted a discount of 50-10 yuan/mt for Qilin, Mengzi, Huize, and Feilong. In the second session, Mengzi and Lan Zinc quoted a discount of 50-25 yuan/mt against the online price. Overall, more traders were active in shipments today, but zinc prices rose compared to yesterday, leading to downstream resistance to high prices. Just-in-time procurement dominated, while downstream consumption has not yet fully recovered. As a result, transactions showed little change compared to yesterday. It is expected that as downstream consumption gradually improves, market premiums will rise.

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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