Guangdong Zinc: Market trading is relatively active, with spot premiums/discounts rising [SMM Midday Review]

SMM May 21 report:

       In Guangdong, mainstream transactions of 0# zinc were concluded at 22,865-23,030 yuan/mt. Mainstream brands were quoted at a premium of 335 yuan/mt against the 2507 contract, and at a discount of 60 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed. In the first instance, suppliers quoted Qilin, Mengzi, and Lanxin zinc at a premium of 355-385 yuan/mt against the online price. In the second instance, Qilin and Lanxin zinc were quoted at a premium of 355-385 yuan/mt against the online price. Overall, despite the upward movement in the futures market today, the number of market inquiries increased due to downstream concerns about subsequent zinc price increases. The spot trades atmosphere in the market was relatively active, and spot premiums/discounts rose.