Guangdong Zinc: Downstream Purchase Willingness Low, Spot Premiums Decline [SMM Midday Review]

Published: Jul 7, 2026 13:21

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[Guangdong Zinc: Low Downstream Purchase Willingness, Spot Premiums Edge Down] Guangdong 0# zinc was mainly traded at 24,530-24,735 yuan/mt, mainstream brands were quoted at a discount of 90-70 yuan/mt against the 2608 contract, and a discount of 15 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread widened...

SMM July 7: Guangdong 0# zinc was mainly traded at 24,530~24,735 yuan/mt, with mainstream brands quoted at discounts of 90~70 yuan/mt against the 2608 contract and a discount of 15 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread widened. Today, suppliers quoted discounts of 90~70 yuan/mt for Qilin, Mengzi, and Anning. Today, the Guangdong region's purchase willingness for refined zinc was 1.85 and the sales sentiment was 2.6. The price center continued to rise. In early trading, market quotes changed relatively little from yesterday, but actual transactions remained difficult. Downstream inquiries were sluggish and purchase willingness was low. Subsequently, the market slightly lowered premiums to facilitate shipments.

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