Spot Trading of Zinc In Guangdong May Turn Weak This Week

#0 zinc spot was quoted with premiums of 350-390 yuan/mt over SHFE 2307 zinc contract, and discounts in Guangdong stood at 0-80 yuan/mt against Shanghai prices. Downstream buying at lows and contentiously falling inventories allowed sellers to raise prices. Spot premiums rose.

The price difference between the SHFE front-month and next-month zinc contracts gradually narrowed during the week, and the Guangdong market's premiums to Shanghai rose. It is expected that the spot trading may turn weak this week.

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