Guangdong Zinc: Zinc Prices Fluctuate Upward, Market Transactions Turn Sluggish [SMM Midday Review]

SMM reported on December 26: Mainstream transactions of Guangdong 0# zinc were at 25,900-26,185 yuan/mt. Mainstream brands quoted a premium of 420-545 yuan/mt against the 2502 contract and a discount of 90 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread widening. In the first session, suppliers quoted a premium of 515-545 yuan/mt for Qilin, Huize, Feilong, and Lanzinc. During the early session, zinc prices rose, and traders lowered premiums to facilitate sales; however, some downstream enterprises had already restocked at lower prices earlier. In the second session, ex-factory Qilin was quoted at a premium of 420 yuan/mt against the online price. Overall, some market traders had already closed their accounts recently. With today's futures market rising, downstream purchase willingness was low. Although the price spread between futures contracts slightly increased, premiums slightly pulled back, and overall market transactions were moderate.