Guangdong Zinc: Market trading atmosphere is average, spot premiums/discounts continue to decline [SMM Midday Review]

SMM reported on July 11:

        The mainstream transaction price for 0# zinc in Guangdong ranged from 22,290 to 22,440 yuan/mt. Mainstream brands were quoted at a discount of 30 yuan/mt against the 2508 contract and at a discount of 70 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread continued to persist. In the first period, suppliers offered discounts ranging from 60 to 20 yuan/mt for Qilin, Mengzi, Anning, and Lanxin brands. In the second period, discounts for Qilin, Mengzi, Anning, and Lanxin brands remained at 60 to 20 yuan/mt. Overall, although zinc prices maintained a fluctuating trend today, they remained at a relatively high level. Downstream procurement demand was low, and spot cargo transactions in the market remained poor, with spot premiums continuing to decline.