Guangdong Zinc: Futures Market Continues to Decline, Spot Pricing Purchases Increase [SMM Midday Review]

SMM March 18 News: Guangdong 0# zinc was mainly traded at 23,760-24,095 yuan/mt, with mainstream brands quoted at a discount of 35 yuan/mt against the 2505 contract and a discount of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. In the first trading session, suppliers quoted discounts of 35-15 yuan/mt for Qilin, Mengzi, Huize, Danxia, and Lan zinc. In the second session, Qilin, Mengzi, and Lan zinc were quoted at discounts of 35-15 yuan/mt against the online price. Overall, the futures market declined today, improving market transactions slightly. Spot trades saw a modest recovery, with market premiums rising slightly. Meanwhile, as futures prices continued to drop, downstream pricing on dips increased. Although spot transactions improved slightly, Guangdong's contract rollover quotes today showed an actual decline in premiums.