Guangdong Zinc: Futures market center rises, trading activity sluggish [SMM Midday Review]

SMM News on July 3:

       The mainstream transaction price of 0# zinc in Guangdong ranged from 22,275 to 22,450 yuan/mt. Mainstream brands were quoted at premiums of 20 to 60 yuan/mt against the 2508 contract, and at discounts of 60 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened. In the first trading session, suppliers quoted premiums of 30 to 60 yuan/mt for Qilin, Danxia, Anning, Feilong, and Lanxin brands. In the second session, Qilin, Danxia, Anning, and Lanxin brands were quoted at premiums of 20 to 50 yuan/mt against the online price. Overall, the center of zinc prices rose today compared to yesterday, with strong fear of high prices in the market. There were fewer inquiries and purchases, and the trading atmosphere was sluggish. Spot premiums continued to decline.