Market activity was low during the week, and spot premiums/discounts declined slightly [SMM Guangdong Spot Weekly Review]

       This week, premiums and discounts in Guangdong dropped by about 10 yuan/mt WoW. As of Friday this week, the mainstream 0# quotations in Guangdong were at discounts of 100~60 yuan/mt against the market, and the Shanghai-Guangdong price spread remained stable. Prices gradually rose at the beginning of the week, somewhat dampening downstream procurement enthusiasm, and market trading was sluggish. Mid-week, zinc prices pulled back slightly from their highs, with terminal spot pricing procurement increasing slightly, and the overall market trading atmosphere recovering slightly. However, the characteristics of the current downstream consumption off-season are quite evident, with terminal factories in Guangdong mainly engaging in just-in-time procurement. Next week, Guangdong will roll over its quotations to the next contract month. Under the off-season consumption conditions, it is expected that spot premiums/discounts will continue to operate in the doldrums.