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

SMM March 27 News: The mainstream transaction price of Guangdong 0# zinc was 24,055-24,165 yuan/mt. The mainstream brands quoted a discount of 30 yuan/mt against the 2505 contract and a discount of 30 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened. In the first session, suppliers offered discounts of 45-20 yuan/mt for Qilin, Mengzi, Huize, and Lanzinc. In the second session, Qilin and Mengzi offered discounts of 30 yuan/mt against the online price. Overall, affected by the high fluctuations in the futures market, downstream purchase willingness was low, mainly focusing on consuming previous inventory. Market transactions were relatively weak, with slightly increased trading among traders, but spot transactions overall continued to fluctuate downward. Meanwhile, some traders still maintained a sentiment to stand firm on quotes, but under high futures prices and significant premiums and discounts, downstream and traders' purchase willingness remained low. Today, spot premiums and discounts slightly decreased.