Market trading atmosphere is sluggish, and premiums and discounts in Guangdong continue to decline [SMM Guangdong Spot Weekly Review]

Premiums and discounts in Guangdong continued to decline this week, dropping by approximately 100 yuan/mt WoW. As of Friday this week, the mainstream 0# zinc quotations in the Guangdong market were at premiums of 10~30 yuan/mt against the market, and the Shanghai-Guangdong price spread remained unchanged. Supply side, the arrival of goods in Guangdong increased MoM this week, resulting in a relatively abundant supply of spot cargo in the market. However, downstream consumption remained in the doldrums overall, with enterprises mostly engaging in just-in-time procurement. Under these circumstances, traders faced relatively difficulties in selling their goods, leading to a continuous decline in spot premiums. Currently, the spot supply in the Guangdong market remains relatively sufficient, and there will be continuous arrivals in the subsequent market. However, given the weak demand, it is expected that premiums and discounts will continue to decline next week.

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