Guangdong Zinc: Futures Market Declined, Market Transactions Improved [SMM Midday Review]

SMM March 28: Guangdong 0# zinc mainstream transactions were at 23,915-23,690 yuan/mt. Mainstream brands quoted a discount of 25 yuan/mt against the 2505 contract and a discount of 10 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread remained unchanged. In the first session, suppliers offered discounts of 35-5 yuan/mt for Qilin, Mengzi, and Lan zinc. In the second session, Qilin and Mengzi offered discounts of 25-5 yuan/mt against the online price. Overall, the futures market declined today, prompting some downstream companies to restock at lower prices, which improved spot trades. In the first session, the futures market fluctuated, with more downstream inquiries and a strong wait-and-see sentiment. In the second session, the futures market continued to decline, and downstream companies made small-scale restocking. Market transactions improved today, with spot premiums and discounts slightly rising.