Guangdong Zinc: Market Transactions Weaken, Spot Premiums Decline [SMM Midday Review]

SMM March 14 News:

        The mainstream transaction price of Guangdong #0 zinc was 24,095-24,255 yuan/mt, with mainstream brands quoting a discount of 25 yuan/mt against the 2504 contract and a discount of 10 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. In the first trading session, suppliers quoted discounts of 40-0 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lan zinc. In the second trading session, Qilin, Mengzi, and Lan zinc were quoted at discounts of 30-10 yuan/mt against the online price. Overall, zinc prices rose today, and downstream buyers showed resistance to high prices, with most spot transactions occurring between traders. Some market traders continuously lowered premiums to facilitate sales, while others maintained a strong sentiment to stand firm on quotes, showing low willingness to sell at discounts. Under high prices and weak transactions, spot premiums declined.