Zinc Prices Pulled Back During the Week, Premiums Rose Slightly [SMM Guangdong Spot Weekly Review]

SMM, January 3: This week, spot premiums in Guangdong rose, up 5 yuan/mt WoW in terms of the weekly average price. As of this Friday, mainstream quotations for 0# zinc in the Guangdong market against the 2502 contract were quoted at premiums of 545~585 yuan/mt, and the Shanghai-Guangdong price spread expanded to 130 yuan/mt. During the week, zinc prices weakened after the New Year holiday, prompting downstream enterprises to restock at lower prices, which boosted procurement enthusiasm. Market transactions slightly improved, while Guangdong inventory continued to decline throughout the week. Limited availability of certain brands led to higher daily shipment premiums. The current price spread between futures contracts remains in a wide and fluctuating range. Spot premiums in Guangdong are expected to maintain a fluctuating trend next week.

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