Guangdong Zinc: Weak downstream procurement demand, spot premiums/discounts decline [SMM Midday Review]

SMM June 13 news:

       In Guangdong, the mainstream transaction price of 0# zinc ranged from 22,190 to 22,390 yuan/mt. Mainstream brands were quoted at premiums of 270 yuan/mt against the 2507 contract and at premiums of 30 yuan/mt against spot zinc in Shanghai. The Shanghai-Guangdong price spread widened. In the first instance, suppliers offered premiums of 265 to 300 yuan/mt for Qilin, Mengzi, Anning, and Lanxin brands. In the second instance, Qilin, Mengzi, Anning, and Lanxin brands were quoted at premiums of 265 to 300 yuan/mt against Wangjia. Overall, the futures market fluctuated considerably today. Downstream enterprises had replenished their stocks in the early stage, and the actual demand from end-users was currently moderate. As a result, spot transactions in the market were relatively ordinary, and spot premiums and discounts declined slightly.