Guangdong Zinc: The center of zinc prices moves higher, while spot trades weaken [SMM Midday Review]

SMM reported on July 9:

        The mainstream transaction price of 0# zinc in Guangdong ranged from 21,980 to 22,175 yuan/mt. Mainstream brands were quoted at a premium of 5 yuan/mt against the 2508 contract and at a discount of 70 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread remained unchanged. In the first session, suppliers offered Qilin, Mengzi, Anning, and Lanxin zinc at a discount of 25 to a premium of 15 yuan/mt against the online price. In the second session, Qilin, Anning, and Lanxin zinc were offered at a discount of 25 to a premium of 5 yuan/mt against the online price. Overall, the futures market rose today, dampening downstream purchasing enthusiasm. The market trading atmosphere weakened, and it was difficult for traders to sell their cargoes. Spot premiums/discounts declined.