Guangdong Zinc: Spot Transactions Slightly Improved, Premiums and Discounts Edged Higher [SMM Midday Review]

SMM March 5 News: Guangdong #0 zinc was mainly traded at 23,485-23,685 yuan/mt, with mainstream brands quoted at a discount of 5 yuan/mt against the 2504 contract and a discount of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. Initially, suppliers quoted discounts of 5 yuan/mt to premiums of 15 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lan zinc. In the second session, Qilin, Mengzi, Huize, and Lan zinc were quoted at discounts of 5 yuan/mt to premiums of 15 yuan/mt against the online price. Overall, the slight pullback in the futures market today improved some traders' transactions compared to yesterday, and spot premiums in the market rose slightly. However, downstream demand remains relatively moderate, with end-users mostly restocking on dips based on rigid demand, and actual consumption improvement still requires time to materialize.