Guangdong Zinc: High Prices Suppress Downstream Purchasing Demand, Spot Premiums/Discounts Remain Unchanged from Yesterday [SMM Midday Review]

Published: Mar 25, 2025 11:52 (GMT+8)

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Guangdong Zinc: High Prices Suppress Downstream Purchasing Demand, Guangdong Spot Premiums/Discounts Remain Unchanged from Yesterday SMM March 25th: The mainstream transaction price of Guangdong 0# zinc was between 24,050 and 24,210 yuan/mt. Mainstream brands were quoted at a discount of 15 yuan/mt against the 2505 contract and at a premium of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened...

SMM March 25: In Guangdong, the main transactions for 0# zinc were at 24,050 to 24,210 yuan/mt. The mainstream brands quoted a discount of 15 yuan/mt against the 2505 contract and a premium of 20 yuan/mt over Shanghai spot, with the Shanghai-Guangdong price spread widening. In the first trading session, suppliers quoted discounts of 20 to premiums of 5 yuan/mt for Qilin, Mengzi, Feilong, and Lan zinc. In the second trading session, Qilin, Mengzi, Huize, and Lan zinc were quoted at discounts of 20 to premiums of 5 yuan/mt against the online price. Overall, today's zinc prices fluctuated at high levels, with weak downstream purchasing demand. Additionally, downstream enterprises had previously stocked up on inventories at lower prices, leading to sluggish market transactions. Although some traders had a strong sentiment to stand firm on quotes, actual transactions were difficult under high premiums. Today, the spot premiums and discounts in Guangdong remained unchanged from yesterday.

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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