Guangdong Zinc: Zinc prices consolidate at highs, downstream just-in-time procurement [SMM Midday Review]

Published: Aug 11, 2026 11:53

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[Guangdong: Zinc Prices Consolidate at Highs, Downstream Just-in-Time Procurement] In Guangdong, 0# zinc largely traded at 25,465-25,590 yuan/mt, with mainstream brands quoted at a discount of 100-70 yuan/mt against the 2609 contract and a discount of 50 yuan/mt against spot Shanghai, and the Shanghai-Guangdong price spread narrowing.

SMM, August 11: In Guangdong, #0 zinc was mainly traded at 25,465-25,590 yuan/mt. Mainstream brands were offered at discounts of 100-70 yuan/mt against the 2609 contract, and at a discount of 50 yuan/mt against Shanghai spot cargoes. The Shanghai-Guangdong price spread narrowed. Today, suppliers offered discounts of 100-70 yuan/mt for Qilin, Mengzi, Danxia, Anning, Feilong, and Lan zinc. In Guangdong, the refined zinc procurement sentiment stood at 1.95, and the sales sentiment at 2.57. Zinc prices consolidated at high levels, and the overall market trading atmosphere was mediocre. Recently, spot supply for some brands remained tight, supporting firm spot offers. Downstream enterprises mostly made just-in-time procurement, and some plants, dragged by high finished product inventories, showed insufficient purchasing enthusiasm.

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