Guangdong Zinc: The center of the futures market declined, but market transactions remained average [SMM Midday Review]

SMM News on July 7:

       In Guangdong, the mainstream transaction price for 0# zinc ranged from 22,090 to 22,290 yuan/mt. Mainstream brands were quoted at a premium of 20 yuan/mt against the 2508 contract and at a discount of 70 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. In the first session, suppliers quoted Qilin, Danxia, Anning, Feilong, and Lanxin brands at a premium of 10 to 40 yuan/mt against the online price. In the second session, Qilin, Anning, and Lanxin brands were quoted at a premium of 10 to 30 yuan/mt against the online price. Overall, inventory in the Guangdong region has increased. Although the futures market center moved downward today, downstream purchases were still mainly driven by immediate needs, with insufficient procurement enthusiasm. The market trading atmosphere was average, and spot premiums declined.