Guangdong Zinc: Spot cargo transactions remain poor, and the premium continues to decline today [SMM Midday Review]

SMM News on July 4:

       In Guangdong, the mainstream transaction price for 0# zinc ranged from 22,295 to 22,420 yuan/mt. Mainstream brands were quoted at a premium of 10 to 30 yuan/mt against the 2508 contract, and at a discount of 60 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread maintained. In the first period, suppliers quoted a premium of 10 to 30 yuan/mt for Qilin, Anning, and Lanxin brands, while Huize brand (factory pickup) was quoted at a premium of 170 yuan/mt. In the second period, the premium for Qilin, Anning, and Lanxin brands ranged from 10 to 20 yuan/mt. Overall, downstream consumption in Guangdong is currently sluggish. Meanwhile, with zinc prices maintaining a fluctuating trend, downstream procurement enthusiasm is low, with most purchases being just-in-time procurement based on sales. Traders have lowered their premiums to facilitate sales, but transactions remain relatively average. Today, premiums in Guangdong continue to decline.