Guangdong Zinc: Price Spread Between Futures Contracts Widens, Spot Premiums Remain Unchanged from Yesterday [SMM Midday Review]

SMM June 25 News:

       In Guangdong, the mainstream transaction price of 0# zinc ranged from 22,090 to 22,185 yuan/mt. Mainstream brands were quoted at a premium of 180 to 210 yuan/mt against the 2508 contract, and at a discount of 70 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. In the first session, suppliers quoted Qilin, Mengzi, and Lanxin zinc at a premium of 180 to 210 yuan/mt. In the second session, Qilin, Mengzi, and Lanxin zinc were quoted at a premium of 180 to 200 yuan/mt against the online price. Overall, the futures market fluctuated and rose today, with downstream buyers showing low enthusiasm for procurement. Meanwhile, downstream consumption weakened at present. Under such circumstances, traders slightly reduced their premiums, but there were fewer traders offering spot discounts in the market. Additionally, with the widening of the price spread between futures contracts today, spot premiums remained unchanged from yesterday.