Spot premiums/discounts continue to rise, while market trading remains sluggish [SMM Guangdong Spot Weekly Review]

SMM News on May 30: This week, premiums and discounts in Guangdong region rose, increasing by approximately 105 yuan/mt WoW. As of Friday this week, the mainstream market quotations for 0# zinc in Guangdong region were at premiums of 500~560 yuan/mt over the market, and the Shanghai-Guangdong price spread widened. The center of zinc prices edged up slightly WoW this week. Most downstream enterprises continued to adopt a wait-and-see attitude, implementing small-scale procurement and continuously depleting their inventory reserves under long-term contracts. Meanwhile, influenced by the news of extended maintenance at smelters in South China during the week, the market was relatively concerned about subsequent spot supply. Under these circumstances, traders were reluctant to sell spot cargo, and reluctance to budge on prices grew stronger, driving the spot premiums and discounts in Guangdong to continue to rise.

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