Guangdong Zinc: More Traders Closing Accounts, Overall Transactions Average [SMM Midday Review]

SMM reported on December 30: The mainstream transaction price of Guangdong 0# zinc was 25,740-25,940 yuan/mt. Mainstream brands quoted a premium of 510-535 yuan/mt against the 2502 contract and a discount of 130 yuan/mt against Shanghai spot. The Shanghai-Guangdong price spread narrowed. In the first session, suppliers quoted a premium of 510-535 yuan/mt for Qilin, Mengzi, and Feilong. As the year-end approached, more traders closed their accounts, and fewer traders were active in the market. In the second session, Qilin and Feilong were quoted at a premium of 525 yuan/mt against the online price. Currently, zinc prices fluctuated at highs, downstream made just-in-time procurement, the price spread between futures contracts narrowed today, and market transactions were moderate with premiums slightly declining.