Guangdong Zinc: Zinc Prices Maintain Fluctuating Trend, Downstream Just-in-Time Procurement [SMM Midday Review]

SMM April 18: The mainstream transaction price of Guangdong 0# zinc was 22,410-22,550 yuan/mt. The mainstream brands quoted a premium of 415 yuan/mt against the 2506 contract and a premium of 20 yuan/mt against Shanghai spot cargo, with the Shanghai-Guangdong price spread widening. In the first session, suppliers quoted premiums of 415-465 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lanzinc. In the second session, Mengzi and Lanzinc quoted a premium of 425 yuan/mt against the online price. Overall, the futures market maintained a fluctuating trend today. The premiums and discounts quoted by traders were relatively small compared to yesterday. Downstream companies had previously stocked up on inventory, and currently, they mainly made just-in-time procurement. The market trading atmosphere weakened, while some brands faced spot shortages recently, leading to higher quoted premiums and discounts.