Guangdong Zinc: Spot cargo transactions weakened, with premiums and discounts slightly declining today [SMM Midday Review]

SMM May 23 report:

       In Guangdong, the mainstream transactions of 0# zinc were concluded at 22,620-22,765 yuan/mt. Mainstream brands were quoted at a premium of 350 yuan/mt against the 2507 contract, and at a discount of 10 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed. In the first instance, suppliers quoted premiums of 360-390 yuan/mt for Qilin, Mengzi, and Lanxin zinc. In the second instance, Qilin and Lanxin zinc were quoted at a premium of 350-380 yuan/mt against the online price. Overall, as the weekend approached, purchasing enterprises in the market decreased. Meanwhile, the center of zinc prices in the morning session rose compared to yesterday, and the activity in the spot market diminished. Weakened transactions led to a slight decline in spot premiums/discounts.