SMM July 8: Guangdong #0 zinc was mainly traded at 24,540-24,650 yuan/mt, with mainstream brands quoted at a discount of 100-85 yuan/mt against the 2608 contract and a spot discount of 20 yuan/mt against Shanghai, while the Shanghai-Guangdong price spread widened. Today, suppliers offered discounts of 100-85 yuan/mt for Qilin, Mengzi, Danxia, and Anning brands. Refined zinc purchase sentiment in Guangdong stood at 1.85, and sales sentiment at 2.5. Spot trading was sluggish, with some traders halting spot sales and prioritizing deliveries of long-term contracts. However, high prices dampened end-user purchase willingness, and spot premiums continued to decline.
