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

Published: May 15, 2026 15:18

Save

[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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

18 mins ago

Tianjin Zinc: Weak Operating Rates in North China, Poor Zinc Ingot Demand [SMM Midday Review]

[Tianjin Zinc: Weak Operating Rates in the North, Poor Zinc Ingot Demand] In the Tianjin market, #0 zinc ingot mainstream transactions were at 24,620-24,790 yuan/mt, Zijin traded at 24,760-24,870 yuan/mt, #1 zinc ingot traded at around 24,620-24,730 yuan/mt. Zijin was quoted at a premium of 20-30 yuan/mt against the 2608 contract, Huzinc was quoted at 26,015 yuan/mt, #0 zinc ingot was quoted at a discount of 60-120 yuan/mt against the 2608 contract, and Tianjin was quoted at a discount of around 95 yuan/mt against Shanghai.

18 mins ago

3 hours ago

China's zinc inventory edged down, SHFE zinc recorded a small bearish candlestick [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2609 contract opened at 24,890 yuan/mt. Early in the session, SHFE zinc shot up to a high of 24,935 yuan/mt, then as bears added positions, the price pulled back and dipped to a low of 24,790 yuan/mt. Subsequently, bulls added positions and prices recovered somewhat, consolidating and rebounding to around the daily average line. It finally closed down at 24,865 yuan/mt, down 20 yuan/mt, or 0.08%. Trading volume decreased to 37,107 lots, and open interest increased by 1,847 lots to 113,000 lots.

3 hours ago

LME inventory continues to decline, LME zinc center moves higher [SMM Morning Meeting Summary]

[SMM Morning Briefing: LME Inventory Continues to Decline and LME Zinc Center Moves Higher] Overnight, LME zinc opened at $3,591.5/mt and immediately dipped to $3,591.5/mt. Entering the European trading session, bears reduced positions, pushing the price up to hit a high of $3,627.5/mt. Afterwards, the price pulled back somewhat. During the night session, prices continued to consolidate at highs. It ended higher at $3,615/mt, up $27.5/mt or 0.77%. Trading volume dropped to 8,356 lots, and open interest decreased by 1,942 lots to 249,000 lots.

3 hours ago