Guangdong Zinc: Fewer Trading Merchants, Sluggish Market Transactions [SMM Midday Review]

SMM December 31 News: Mainstream transactions of Guangdong 0# zinc were at 25,715-25,860 yuan/mt, with mainstream brands quoting a premium of 530-540 yuan/mt against the 2502 contract and a spot discount of 130 yuan/mt against Shanghai. The Shanghai-Guangdong price spread remained stable. Initially, suppliers quoted a premium of 530-540 yuan/mt for Qilin, Mengzi, and Jilong. Fewer traders were active in the market today, and some showed sentiment to stand firm on quotes. However, zinc prices fluctuated at highs, and downstream purchasing was mainly as needed. In the second session, Jilong quoted a premium of 530 yuan/mt against the online price. Overall, market transactions were sluggish today, with a slight expansion in the price spread between futures contracts and a modest increase in premiums.