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 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, at a flat spot premium against Shanghai, narrowing the Shanghai-Guangdong price spread. Today, suppliers quoted discounts of 75–55 yuan/mt for Qilin, Mengzi, Huize, Danxia, and Anning brands. The purchase willingness for refined zinc in Guangdong today stood at 1.96, while the sales sentiment was 2.57. Zinc prices continued to consolidate at highs today, with weak purchase willingness downstream. End-users, with relatively ample inventory, lacked restocking demand and mainly made just-in-time procurement, resulting in an overall sluggish trading atmosphere and lower spot premiums.

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