Guangdong Zinc: Spot premiums are relatively high in the market, while spot cargo transactions are relatively ordinary [SMM Midday Review]

SMM May 29 report:

       In Guangdong, the mainstream transactions of 0# zinc were concluded at RMB 22,765-22,990/mt. Mainstream brands were quoted at a premium of RMB 460/mt against the 2507 contract and a premium of RMB 20/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed. In the first instance, suppliers quoted a premium of RMB 500-540/mt for Qilin, Mengzi, and Lanxin brands. In the second instance, Qilin, Mengzi, and Danxia brands were quoted at a premium of RMB 500-550/mt against the online price. Overall, the current spot premiums in the Guangdong market are relatively high, dampening downstream procurement enthusiasm. Most purchases were made in small quantities for just-in-time procurement, and spot transactions were relatively sluggish.