It was difficult for traders to ship goods during the week, and spot premiums/discounts continued to decline [SMM Guangdong Spot Weekly Review]

SMM, June 6: This week, spot premiums in Guangdong declined, falling by 55 yuan/mt WoW. As of Friday this week, the mainstream 0# zinc quotations in the Guangdong market were at premiums of 265~345 yuan/mt over the market. The Shanghai-Guangdong price spread narrowed. This week, zinc prices maintained a fluctuating trend overall. The spot cargo in circulation in the market was relatively abundant recently, while downstream consumer demand weakened as the seasonal off-season for consumption set in. Under these circumstances, it was relatively difficult for traders to sell their goods, and spot premiums subsequently declined. With the normal production of some smelters, it is expected that the spot market in Guangdong will remain relatively loose in the coming period. However, under weak consumer demand, spot premiums and discounts in Guangdong may continue to decline next week.

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