Guangdong zinc: Market wait-and-see sentiment grows, spot premiums stable [SMM midday commentary]

October 12 news: Guangdong 0# zinc mainly traded at 26,170-26,240 yuan/mt, mainstream brands quoted at a discount of 30 yuan/mt to a premium of 10 yuan/mt against the 2611 contract, and at a discount of 20 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread remained stable. Today, suppliers quoted discounts of 30 yuan/mt to premiums of 10 yuan/mt for brands such as Qilin, Mengzi, Danxia, Anning, and Lanzinc. Refined zinc purchasing sentiment in Guangdong was 1.8, and sales sentiment was 2.5. Today, the zinc price center moved higher, downstream buyers became more cautious and hesitant at high prices, purchasing enthusiasm pulled back, and traders found it harder to sell, but market quotes remained firm, with spot premiums holding steady.