Guangdong Zinc: Trader offers were relatively firm, spot premiums edged up [SMM Midday Comment]

SMM August 3: Guangdong mainstream #0 zinc was traded at 25,010~25,050 yuan/mt, mainstream brands quoted spot discounts of 120~60 yuan/mt against the 2609 contract, with a spot discount of 70 yuan/mt against Shanghai spot cargo, and the Shanghai-Guangdong price spread remained stable. Today, suppliers quoted spot discounts of 120~60 yuan/mt for Kirin, Mengzi, Danxia, Anning, and Feilong brands. Today, the purchasing sentiment for refined zinc in the Guangdong region was 1.78, and the sales sentiment was 2.46. The center of zinc prices pulled back somewhat today, but the overall market continued to consolidate at highs, and downstream purchasing enthusiasm was moderate. Recently, the zinc ingot export window opened, and there were certain export expectations in the market, coupled with the tightening of spot circulating resources for some brands compared to the previous period, traders had some willingness to hold prices firm, jointly supporting spot premiums to edge up slightly.