Guangdong Zinc: Futures Market Uptrend Suppresses Downstream Demand, Guangdong Premium Declined Today [SMM Midday Review]

Published: Feb 21, 2025 12:00

Save

[Guangdong Zinc: Futures Market Rise Suppresses Downstream Demand, Guangdong Spot Premiums Declined Today] SMM February 21: The mainstream transaction price of Guangdong #0 zinc was 23,990-24,140 yuan/mt. Mainstream brands quoted a discount of 55 yuan/mt against the 2504 contract and a premium of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed...

SMM February 21 News: Mainstream transactions of Guangdong 0# zinc were at 23,990-24,140 yuan/mt. Mainstream brands quoted a discount of 55 yuan/mt against the 2504 contract and a spot premium of 20 yuan/mt against Shanghai. The Shanghai-Guangdong price spread narrowed. Initially, suppliers quoted discounts of 80-50 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lan zinc. In the second session, Qilin was quoted at a discount of 60-50 yuan/mt against the online price. Overall, the futures market rose today, and downstream showed resistance to high prices. The Guangdong market saw sluggish overall consumption. Meanwhile, downstream consumption remained in a recovery phase, with end-use demand suppressed by high prices. Traders continuously lowered premiums to facilitate sales, leading to a further decline in spot premiums. Revitalization of downstream consumption still requires 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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Mar 13, 2026 18:52

North China Mine Sets March Zinc Concentrates Tender at 2,300 Yuan/mt with Profit-Sharing

[Zinc Concentrates Tender] According to SMM, the March tender price for self pick-up at the mine for zinc concentrates at a mine in North China was around 2,300 yuan/mt in metal content (including the 20/80 profit-sharing arrangement), with the enriched metal not priced. SMM will continue to monitor subsequent changes in processing fees.

Mar 13, 2026 18:52

Zinc Concentrates Market Faces Supply Concerns as Disruptions in Iran, Australia Persist

[Imported Zinc Concentrates Market] Disruptions in Iran and Australia persisted recently, and the market’s concern over zinc concentrates supply continued. This week, traders of imported zinc ore continued to lower spot quotes. It was learned that some recent offers for bulk cargoes of zinc-rich zinc concentrates fell to negative prices.

Mar 13, 2026 18:52

Mar 13, 2026 16:58

Secondary Zinc Oxide Payables Remained Relatively Firm, How Will They Perform in March [SMM Analysis]

Secondary Zinc Oxide Production Fell in February, While Secondary Zinc Oxide Payables Remained Relatively Firm. What Trend Will Secondary Zinc Oxide Show in March?

Mar 13, 2026 16:58