Guangdong zinc: Downstream purchases cautious, spot market activity pulls back [SMM midday comment]

Published: Sep 21, 2026 13:07

Save

[Guangdong: Downstream Purchases Cautious, Spot Market Activity Pulls Back] Guangdong 0# zinc mainly traded at 26,710-26,840 yuan/mt, mainstream brands quoted at a discount of 45-5 yuan/mt against the 2611 contract, a premium of 15 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread widening...

SMM, September 21: Guangdong 0# zinc was mainly traded at 26,710-26,840 yuan/mt, with mainstream brands quoted at a discount of 45-5 yuan/mt against the 2611 contract, a premium of 15 yuan/mt against Shanghai spot, and the Shanghai-Guangdong price spread widened. Today, suppliers quoted discounts of 45-5 yuan/mt for brands such as Qilin, Mengzi, and Anning. The purchasing sentiment for refined zinc in Guangdong was 1.79, and the sales sentiment was 2.64. Today, traders' quotes remained firm, and a few large end-users in the market still had some pre-holiday stockpiling demand, but downstream purchases were cautious at high prices, and spot trading activity in the market pulled back.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

Images in this article contain AI-translated captions for reference only.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Tianjin Zinc: Zinc prices surge, fewer downstream inquiries [SMM Midday Commentary]

[Tianjin Zinc: Zinc Prices Surge, Downstream Inquiries Limited] In the Tianjin market, #0 zinc ingot was mainly traded at 26,590-26,820 yuan/mt, Zijin was traded at 26,710-26,970 yuan/mt, #1 zinc ingot was traded near 26,560-26,730 yuan/mt, Zijin was quoted at a premium of 30-130 yuan/mt against the 2610 contract, Huxin was quoted at 28,365 yuan/mt, #0 zinc ingot was quoted at a discount of 20-90 yuan/mt against the 2610 contract, and the Tianjin market was quoted at a discount of 65 yuan/mt against the Shanghai market.

1 hour ago

Shanghai Zinc: Trader Quotes Firm, Spot Trades Average [SMM Midday Review]

[Shanghai Zinc: Trader Quotes Firm, Spot Trades Average] Today, mainstream transaction prices for #0 zinc were concentrated at 26,775-26,945 yuan/mt, with no trades for Shuangyan, and mainstream transactions for #1 zinc were at 26,705-26,875 yuan/mt. In early trading, quotes were at a premium of 80 yuan/mt against the SMM average price, with no quotes against the contract yet...

1 hour ago

Ningbo Zinc: Downstream Users Cautious at High Prices, Limited Inquiries, Spot Transactions Mostly Need-Based [SMM Midday Commentary]

[Ningbo Zinc: Downstream cautious amid high prices, limited inquiries, spot transactions mostly as needed] The mainstream brand 0# zinc transaction price in the Ningbo market is around 26,735-26,875 yuan/mt. Conventional brands in Ningbo are quoted at a premium of 0 yuan/mt against the 2610 contract, and at a premium of 20 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo area are primarily against the 2610 contract.

1 hour ago