Guangdong Zinc: Trading Activity Relatively Active, Spot Premiums Rise [SMM Midday Review]

Published: Feb 28, 2025 12:04

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[Guangdong Zinc: Active Trading, Spot Premiums Rise] SMM February 28: The mainstream transaction price of Guangdong 0# zinc was 23,460-23,575 yuan/mt. Mainstream brands quoted a discount of 15 yuan/mt against the 2504 contract and a premium of 20 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread widened...

SMM February 28: Mainstream transactions of Guangdong 0# zinc were at 23,460-23,575 yuan/mt. Mainstream brands quoted at a discount of 15 yuan/mt against the 2504 contract and a premium of 20 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread widening. Initially, suppliers quoted Qilin, Mengzi, Huize, and Lan zinc at a discount of 5 yuan/mt to a premium of 5 yuan/mt. In the second session, Qilin, Mengzi, and Lan zinc were quoted at a discount of 10 yuan/mt to a premium of 10 yuan/mt against the online price. Overall, the futures market decline improved market transactions today. Being the last trading day of the week, some downstream buyers purchased on dips, and trading among traders was also active. However, some traders still showed sentiment to stand firm on quotes, leading to moderate shipments.

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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