Guangdong Zinc: Futures market rises slightly, spot cargo transactions are sluggish [SMM Midday Review]

SMM News on July 2:

       The mainstream transactions of 0# zinc in Guangdong were concluded at 22,190-22,330 yuan/mt. Mainstream brands were quoted at premiums of 45-85 yuan/mt against the 2508 contract, and at discounts of 40 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened. In the first session, suppliers quoted premiums of 45-85 yuan/mt for Qilin, Mengzi, Danxia, Anning, and Lanxin brands. In the second session, Qilin, Danxia, Anning, and Lanxin brands were quoted at premiums of 45-75 yuan/mt against the online price. Overall, the futures market showed a slight upward trend today. Spot transactions in the market were sluggish. Although traders offered higher quotes, the actual transaction premiums in the market declined due to the relatively sluggish downstream demand. Spot premiums continued to decline slightly today.