Enterprises Bought the Dip During the Week, Guangdong Premiums and Discounts Slightly Rose [SMM Guangdong Spot Cargo Weekly Review]

       Spot premiums/discounts in Guangdong rose by about 20 yuan/mt WoW. By Friday, the mainstream #0 zinc was quoted at a discount of 80-40 yuan/mt against the market, and the Shanghai-Guangdong price spread narrowed. High zinc prices at the beginning of the week dampened downstream purchase willingness, resulting in sluggish market trading and keeping premiums/discounts under pressure. As zinc prices pulled back towards the weekend, downstream demand for point pricing at lows increased, leading to a slight narrowing of spot discounts. Although some traders showed sentiment to hold prices firm, overall consumption showed mediocre performance, and premiums/discounts are expected to have limited upside room. Guangdong premiums/discounts are projected to maintain a fluctuating trend next week.