High Prices Suppress Guangdong End-Use Demand, Premiums Show Signs of Decline [SMM Guangdong Spot Cargo Weekly Review]

Published: May 15, 2026 15:18

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[High Prices Suppressed End-Use Demand in Guangdong, Premiums Showed Signs of Decline] Premiums in the Guangdong region rose by around 10 yuan/mt WoW this week. As of this Friday, mainstream 0# zinc in the Guangdong region was quoted at a discount of 60-25 yuan/mt against the market price, and the Shanghai-Guangdong price spread widened...

Premiums in Guangdong rose by about 10 yuan/mt WoW this week. As of this Friday, mainstream #0 zinc in Guangdong was quoted at a discount of 60-25 yuan/mt against the market price, with the Shanghai-Guangdong price spread widening. Although the invoice issue in the spot market remained tight this week, the sharp rise in zinc prices caused spot premiums to struggle to rise, gradually trending lower. Looking ahead to next week, based on market feedback, the invoice issue in the spot market is expected to remain tight in the short term. However, if zinc prices hover at highs around current levels, premiums are expected to still face some upward pressure, with the overall center staying in discount territory with fluctuations.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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