Guangdong Zinc: Futures Market Rises, Spot Premiums Remain [SMM Midday Review]

Published: Mar 13, 2025 12:44

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[Guangdong Zinc: Futures Market Rises, Spot Premiums Remain Stable] SMM March 13 News: Mainstream transactions of Guangdong #0 zinc were concluded at 24,030-24,205 yuan/mt. Mainstream brands quoted a premium of 5 yuan/mt against the 2504 contract and a premium of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. In the first session, suppliers quoted premiums of 5-25 yuan/mt for Qilin, Mengzi, Huize, and Lan zinc. In the second session, brands such as Mengzi quoted premiums of around 5 yuan/mt against the online price...

SMM March 13 News: Mainstream transactions of Guangdong #0 zinc were at 24,030-24,205 yuan/mt, with mainstream brands quoting a premium of 5 yuan/mt against the 2504 contract and a premium of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. In the first session, suppliers quoted premiums of 5-25 yuan/mt for Qilin, Mengzi, Huize, and Lan zinc. In the second session, brands like Mengzi quoted premiums of around 5 yuan/mt against the online price. Overall, the futures market continued to rise today, but market trading sentiment was relatively weak, with most transactions driven by downstream just-in-time procurement based on orders. In the second session, fewer traders were selling in the market. Currently, Guangdong's social inventory has decreased, and under low premiums, traders showed low willingness to sell. Today's spot premiums remained unchanged from yesterday.

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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