Guangdong Zinc: End-users Hold Certain Inventory, Making Market Trading Volume Difficult to Increase [SMM Midday Comment]

SMM July 3 News: Guangdong 0# zinc was mainly traded at 24,080-24,360 yuan/mt, with mainstream brands quoted against the 2608 contract at discounts of 100-70 yuan/mt, and against Shanghai spot cargo at a discount of 15 yuan/mt, as the Shanghai-Guangdong price spread widened. Today, suppliers quoted Kirin, Mengzi, Anning, Feilong at discounts of 100-70 yuan/mt. Today, the purchasing sentiment for refined zinc in Guangdong was 1.92, and the sales sentiment was 2.57. After the market opened today, prices rose, making transactions difficult. Low-price shipments also struggled to drive significant volume. End-users held certain inventory levels, and market transactions were mostly small purchases for essential needs. Premiums and discounts were in the doldrums.