Guangdong Zinc: Spot cargo transactions were average, with premiums and discounts declining today [SMM Midday Review]

SMM reported on June 30:

        The mainstream transaction price of 0# zinc in Guangdong ranged from 22,420 to 22,545 yuan/mt. Mainstream brands were quoted at premiums of 50 to 90 yuan/mt against the 2508 contract, and were on par with Shanghai spot. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted premiums of 50 to 85 yuan/mt for Qilin, Mengzi, Anning, Feilong, and Lanxin brands. In the second session, Qilin, Mengzi, Anning, Feilong, and Lanxin brands were quoted at premiums of 50 to 90 yuan/mt against the online price. Overall, the futures market maintained a fluctuating trend today. There were many traders offering goods in the market, but downstream consumer demand was relatively weak. Some traders found it relatively difficult to sell their goods, so they lowered their premiums to facilitate sales, leading to a decline in spot premiums/discounts.