Fewer arrivals during the week, spot premiums/discounts rose [SMM Guangdong Spot Weekly Review]

SMM News on May 23: This week, the premiums and discounts in Guangdong region edged up slightly, rising by approximately 15 yuan/mt WoW. As of Friday this week, the mainstream 0# zinc quotations in the Guangdong market were at premiums of 350~390 yuan/mt over the market price. The Shanghai-Guangdong price spread narrowed. This week, zinc prices maintained a fluctuating trend. Early in the week, the center of zinc prices declined slightly, and downstream procurement sentiment was high. Subsequently, although zinc prices rose, spot trades remained active due to the bullish outlook on zinc prices among some downstream players. Meanwhile, the arrival of some brands in the Guangdong market was relatively low this week. Under such circumstances, traders offered higher premiums and discounts, driving the premiums up this week. Trading sentiment in the market waned towards the end of the week, and spot premiums edged down slightly. With the gradual resumption of production at smelters, it is expected that premiums and discounts in Guangdong may edge down slightly next week.

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