Guangdong Zinc: Futures Market Rose Today, Market Transactions Turned Sluggish [SMM Midday Review]

SMM March 6 News: Guangdong 0# zinc was mainly traded at 23,840-24,065 yuan/mt, with mainstream brands quoted at a discount of 10 yuan/mt against the 2504 contract and on par with Shanghai spot. The Shanghai-Guangdong price spread narrowed. Initially, suppliers quoted discounts of 20 yuan/mt to premiums of 10 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lan zinc. In the second session, Qilin, Mengzi, and Lan zinc were quoted at discounts of 20 yuan/mt to premiums of 10 yuan/mt against the online price. Overall, the futures market rose today, downstream buyers were relatively cautious, and the market was dominated by a wait-and-see sentiment. In the early session, traders continuously lowered premiums to facilitate sales; however, downstream inquiries were limited, and spot transactions were sluggish, leading to lower premiums. In the second session, due to weak demand, fewer traders were active in the market, and today's premiums and discounts saw a slight decline.