Guangdong Zinc: Futures market rises slightly, spot premiums/discounts maintain fluctuating trend [SMM Midday Review]

SMM reported on July 17:

        The mainstream transaction price of 0# zinc in Guangdong ranged from 21,990 to 22,130 yuan/mt. Mainstream brands were quoted at a discount of 40 yuan/mt against the 2509 contract and at a discount of 80 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 60 to 20 yuan/mt against the online price. In the second session, Qilin, Mengzi, and Lanxin zinc were offered at a discount of 40 to 30 yuan/mt against the online price. Overall, the futures market fluctuated upward today. Trading activity remained sluggish, with downstream purchases primarily driven by immediate needs. Traders faced difficulties in selling their goods. However, the price spread between futures contracts rose slightly today, and spot premiums increased slightly.