Guangdong Zinc: Zinc Price Center Dips, Traders’ Quotations Edge Up [SMM Midday Review]

SMM, July 20: Guangdong 0# zinc was mainly traded at 24,260-24,460 yuan/mt, with mainstream brands quoted at discounts of 120-100 yuan/mt against the 2609 contract, and at a discount of 80 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread widened. Today, suppliers quoted discounts of 120-100 yuan/mt for Qilin, Mengzi, Anning, and Feilong. The purchase sentiment for refined zinc in Guangdong was 2.16, and the sales sentiment was 2.53. Last Friday, prices at night session dropped, and point-price transactions in the market increased. Today, the center of the futures market fluctuated around 24,450 yuan/mt, traders' offers rose, and there was some just-in-time procurement in the market. However, due to relatively ordinary end-use consumption, market activity did not improve significantly, and spot premiums only edged up.