Guangdong Zinc: Futures Market Rises, Downstream Players Remain Cautious [SMM Midday Review]

Published: Mar 24, 2025 11:59

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Guangdong Zinc: Futures Market Rises, Downstream Players Remain Cautious SMM March 24: In Guangdong, the mainstream transaction price for 0# zinc was 23,935 to 24,225 yuan/mt. The main brands were quoted at a discount of 15 yuan/mt against the 2505 contract and on parity with Shanghai spot, with the Shanghai-Guangdong price spread narrowing.

SMM March 24: Mainstream transactions of 0# zinc in Guangdong were at 23,935-24,225 yuan/mt. Major brands quoted a discount of 15 yuan/mt against the 2505 contract and were on par with Shanghai spot, with the Shanghai-Guangdong price spread narrowing. In the first session, suppliers offered discounts of 35-5 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lanxin. In the second session, Qilin and Mengzi were at a discount of 15-10 yuan/mt against the online price. Overall, zinc prices continued to rise today. Although there was some inquiry from downstream buyers, they were relatively hesitant due to high prices. End-users with inventory replenishment plans were more cautious, leading to suppressed purchasing enthusiasm. The overall market transactions weakened, and the difficulty in trading spot zinc led to a decline in spot premiums and discounts.

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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