Guangdong zinc: Zinc price center declines, downstream restocks small volumes [SMM midday review]

Published: Nov 06, 2026 11:58 (GMT+8)

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[Guangdong: Zinc price center declines, downstream restocks small volumes] In Guangdong, #0 zinc mainly traded at 25,330-25,500 yuan/mt, with mainstream brands quoted at premiums of 20-50 yuan/mt against the 2612 contract and premiums of 20-50 yuan/mt against Shanghai spot cargo...

SMM, November 6: Mainstream transactions of #0 zinc in Guangdong were at 25,330-25,500 yuan/mt, with mainstream brands quoted at premiums of 20-50 yuan/mt against the 2612 contract and premiums of 20-50 yuan/mt against Shanghai spot. Today, suppliers quoted premiums of 20-50 yuan/mt for Qilin, Mengzi, Danxia, and Anning brands. The purchase sentiment for refined zinc in Guangdong was 2.05, and the sales sentiment was 2.55. Recently, inflows into Guangdong warehouses have been low, and spot supply of some brands has been relatively tight today. Coupled with lower zinc prices, traders held their quotes firm, but downstream buyers still held some bearish expectations for prices. Actual market transactions were mostly small-volume restocking purchases by end-users, with spot premiums holding steady.

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