Guangdong Zinc: Futures Market Continues to Rise, Spot Premiums/Discounts Decline [SMM Midday Review]

SMM March 7 News: Mainstream transactions of Guangdong #0 zinc were concluded at 24,030-24,145 yuan/mt, with mainstream brands quoted at a discount of 15 yuan/mt against the 2504 contract and on par with Shanghai spot. The Shanghai-Guangdong price spread remained unchanged. Initially, suppliers quoted Qilin, Mengzi, Huize, and Lan zinc at a discount of 15 yuan/mt to a premium of 15 yuan/mt. In the second session, Qilin and Lan zinc were quoted at a discount of 15 yuan/mt to a premium of 15 yuan/mt against the online price. Overall, the futures market rose compared to the previous day, making it difficult for traders to sell. Market transactions were relatively sluggish, and some traders slightly lowered premiums to facilitate sales. Spot premiums and discounts edged lower, but some traders with limited spot inventory showed strong reluctance to sell, which also led to a slight decline in spot premiums.