Guangdong Zinc: Downstream buying sentiment remains low, spot premiums/discounts continue to decline [SMM Midday Review]

SMM June 9 report:

       In Guangdong, the mainstream transactions for 0# zinc were concluded at 22,465-22,605 yuan/mt. Mainstream brands were quoted at premiums of 245-270 yuan/mt against the 2507 contract, and at discounts of 30 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed. In the first period, suppliers quoted premiums of 255-270 yuan/mt for Qilin, Mengzi, Feilong, and Lanxin brands. In the second period, Qilin, Mengzi, Anning, and Lanxin brands were quoted at premiums of 245-270 yuan/mt against the online price. Overall, there are currently many trading companies selling in the Guangdong market, and the available spot cargo is in a relatively loose state. However, downstream buying sentiment is weak, and spot premiums/discounts continued to decline today.