Guangdong Zinc: Downstream Just-in-Time Procurement, Spot Transactions Average [SMM Midday Review]

Published: Apr 21, 2025 13:06

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Guangdong Zinc: Downstream Just-in-Time Procurement, Spot Transactions Were Moderate. The mainstream transaction price of Guangdong 0# zinc was 22,545-22,725 yuan/mt. The mainstream brands quoted a premium of 415 yuan/mt against the 2506 contract and a premium of 50 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened....

SMM April 21: The mainstream transaction price of 0# zinc in Guangdong was 22,545-22,725 yuan/mt. The mainstream brands quoted a premium of 415 yuan/mt against the 2506 contract and a premium of 50 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, and Lan zinc. In the second session, Mengzi and Huize quoted premiums of 420-435 yuan/mt against the net price. Overall, the futures market maintained a fluctuating trend today, while the spot premiums and discounts reported in the Guangdong market were relatively high. Downstream mainly made just-in-time procurement, and spot transactions were relatively moderate.

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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