Under the Game of Long and Short Forces, Guangdong Zinc Ingot Spot: When Will the Discount Consolidation Pattern Break [SMM Analysis]
[Guangdong Zinc Ingot Spot Under Long-Short Power Game: When Will the Discount Consolidation Pattern Break] As of 15:00 today, the most-traded SHFE zinc 2610 contract closed at 26,240 yuan/mt, with zinc prices fluctuating at high levels. Meanwhile, according to SMM data, as of today, Guangdong spot premiums have been operating at a discount of 140-80 yuan/mt within the month, maintaining an overall discount range consolidation trend. Regional inventory stood at 29,000 mt (August 26). How will Guangdong premiums develop thereafter? First, we analyze the overall situation of the current Guangdong market.