Guangdong saw relatively significant destocking, and spot premiums remained relatively firm [SMM Guangdong Spot Weekly Review]

Published: Aug 7, 2026 14:15

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[Guangdong saw notable destocking, spot premiums relatively firm] Guangdong spot premiums rose 5 yuan/mt WoW this week, with mainstream #0 zinc in Guangdong quoted at a discount of 90–70 yuan/mt against the market as of Friday

Guangdong premiums rose 5 yuan/mt WoW this week. As of this Friday, mainstream #0 zinc in Guangdong was quoted at a discount of 90-70 yuan/mt against the market price. Driven by the recent export window, Guangdong inventory slipped, and combined with tight spot supply of some brands in the market, the center of premiums edged up. Looking ahead to next week, with Guangdong inventory decreasing and traders still holding prices somewhat firm, premiums are seeing some support. However, weak end-use consumption during the off-season is exerting downward pressure on any uptrend. Premiums are expected to remain fluctuating in the discount range next week.

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