Guangdong Zinc: Market Trading Atmosphere Remains Sluggish, Premiums Declined Today [SMM Midday Review]

SMM, January 24: The mainstream transaction price of Guangdong 0# zinc was 23,660-23,885 yuan/mt. Mainstream brands quoted spot premiums of -10 to 0 yuan/mt against the 2503 contract and spot premiums of 40 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed. Initially, suppliers quoted premiums of -10 to 0 yuan/mt for Qilin and Lan zinc, while no quotes were available for mainstream brands during the second trading session. Overall, downstream enterprises and factories were mostly on holiday, and market trading activity among suppliers also decreased. Early in the session, downstream purchases were limited. With the futures market trending upward, some traders lowered premiums to facilitate sales. The price spread between futures contracts widened today, and spot premiums also declined amid sluggish transactions.