Guangdong Zinc: Futures Market Slightly Declined, Market Transactions Improved [SMM Midday Review]

SMM January 2 News: Mainstream transactions of Guangdong 0# zinc were at 25,630-25,855 yuan/mt, with mainstream brands quoting a premium of 525-555 yuan/mt against the 2502 contract and a spot discount of 120 yuan/mt against Shanghai. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted a premium of 525-555 yuan/mt for Qilin, Mengzi, Danxia, Feilong, and Lan zinc. On the first trading day after the holiday, the futures market slightly declined, prompting downstream enterprises to restock at lower prices, improving trading activity. In the second session, Qilin was quoted at a premium of 540-545 yuan/mt against the online price. Overall, some downstream enterprises restocked at lower prices to meet demand for the Chinese New Year break, leading to a slight improvement in overall transactions today.