Guangdong Zinc: Zinc Prices Fluctuate Upward, Spot Transactions Are Average [SMM Midday Review]

SMM March 17 News: Guangdong #0 zinc was mainly traded at 24,085-24,240 yuan/mt, with mainstream brands quoting a discount of 25 yuan/mt against the 2504 contract and a discount of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. Initially, suppliers quoted discounts of 35-5 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lanzinc. In the second session, Qilin, Huize, and Lanzinc were quoted at discounts of 30-15 yuan/mt against the online price. Overall, the recent rise in zinc prices above 24,000 yuan/mt dampened downstream purchasing enthusiasm, with enterprises mainly making just-in-time procurement and stocking demand declining. Spot transactions in Guangdong were moderate today, with sluggish market activity, and spot premiums remained unchanged from last Friday.