Guangdong Zinc: Futures market center rises, spot premiums/discounts fall [SMM Midday Review]

SMM News on June 4:

       The mainstream transactions of 0# zinc in Guangdong were concluded at 22,730-22,865 yuan/mt. Mainstream brands were quoted at a premium of 420 yuan/mt against the 2507 contract, and at a discount of 100 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted premiums of 410-440 yuan/mt for Qilin, Mengzi, Feilong, and Lanxin brands. In the second session, Qilin, Mengzi, and Lanxin brands were quoted at a premium of 410-420 yuan/mt against the online price. Overall, the center of the futures market moved upward today, with downstream procurement enthusiasm waning, and spot transactions remaining relatively average. Meanwhile, the price spread between futures contracts narrowed today, with multiple factors driving premiums and discounts slightly downward.