Guangdong Zinc: Market Transactions Sluggish, Spot Premiums/Discounts Decline [SMM Midday Review]

SMM reported on the 26th: The mainstream transaction price of 0# zinc in Guangdong ranged from 24,075 to 24,260 yuan/mt. The mainstream brands were quoted at a discount of 20 yuan/mt against the 2505 contract and a premium of 20 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread remained stable. In the first session, suppliers offered discounts of 35-10 yuan/mt for Qilin, Mengzi, Huize, Danxia, and Lan zinc. In the second session, Qilin and Mengzi were quoted at discounts of 30-25 yuan/mt against the online price. Overall, the futures market continued to fluctuate at highs today. Downstream enterprises had previously restocked at low prices, coupled with strong fear of high prices, leading to weaker market transactions. Some traders lowered premiums to facilitate sales, resulting in a slight decline in spot premiums and discounts.