Guangdong Zinc: Zinc Prices Continue to Consolidate at Highs, Downstream Purchasing Enthusiasm Insufficient [SMM Midday Review]

Published: Jul 2, 2026 12:02

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[Guangdong Zinc: Zinc Prices Continue to Consolidate at Highs, Downstream Procurement Enthusiasm Insufficient] Guangdong 0# zinc was mainly traded at 24,185-24,350 yuan/mt, with mainstream brands quoted at a discount of 75-55 yuan/mt against the 2608 contract and at a premium of 0 yuan/mt against Shanghai spot zinc; the Shanghai-Guangdong price spread narrowed...

SMM July 2 news: Guangdong 0# zinc mainly traded at 24,185-24,350 yuan/mt, with mainstream brands quoted at a discount of 75-55 yuan/mt against the 2608 contract, and at a premium of 0 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread narrowed. Today, suppliers quoted a discount of 75-55 yuan/mt for Qilin, Mengzi, Huize, Danxia, and Anning brands. In the Guangdong region today, the purchase willingness for refined zinc was 1.96, and the sales sentiment was 2.53. Zinc prices continued to consolidate at highs today. Downstream purchase willingness was weak, as end-users currently held ample inventory and had limited restocking demand, mostly making just-in-time procurement. The overall trading atmosphere was sluggish, and spot premiums declined.

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