Guangdong Zinc: Market Transactions Moderate Premiums and Discounts Continue to Rise [SMM Midday Review]

SMM March 20 Update: Guangdong 0# zinc mainly traded at 23,625 to 23,925 yuan/mt. Mainstream brands quoted a discount of 5 yuan/mt against the 2505 contract and a discount of 40 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread widening. In the first session, suppliers quoted discounts of 10 to premiums of 25 yuan/mt for Qilin, Mengzi, Huize, Danxia, and Lanxin. In the second session, Qilin and Lanxin were quoted at premiums of 5 to 25 yuan/mt against the online price. Overall, the futures market saw a slight decline compared to yesterday, with more inquiries from downstream buyers. However, due to higher market quotes, a wait-and-see sentiment also emerged. Traders slightly lowered their premiums to facilitate sales. Some end-users took advantage of lower prices to purchase, and overall trading activity remained relatively active.