Guangdong Zinc: Limited spot cargo available in the market, spot premiums/discounts rise [SMM Midday Review]

SMM May 26 news:

       In Guangdong, the mainstream transactions for 0# zinc were concluded at RMB 22,515-22,730/mt. Mainstream brands were quoted at a premium of RMB 370/mt against the 2507 contract and at a discount of RMB 20/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread widened. In the first instance, suppliers quoted Qilin, Mengzi, and Lanxin at a premium of RMB 390-400/mt. In the second instance, Qilin, Mengzi, and Danxia were quoted at a premium of RMB 400-440/mt against the online price. Overall, the center of the futures / futures market declined somewhat today, while the volume of spot cargo circulating in the market was relatively low. Under these circumstances, the premiums quoted by traders increased slightly, and spot transactions were relatively moderate.