Guangdong Zinc: Market Premium Droppled Slightly with More Zinc Available

SHANGHAI, Jul 19 (SMM) - According to SMM, #0 zinc in Guangdong was traded at 22650-22930 yuan/mt, and quoted with premiums of 560-620 yuan/mt over the SHFE 2209 zinc contract. Discounts of Guangdong stood at 10 yuan/mt over Shanghai prices. Price spread between the two places shrank 20 yuan/mt from a day ago. More zinc was available in the Guangdong market today thanks to a large number of arrivals, which caused the premiums to fluctuate dramatically. At first, the good holders quoted a premium of 40-50 yuan/mt on the online prices of brands such as Qilin, and the transaction was relatively flat. Later, due to a large number of arrivals, the quotations of spot dropped slightly, and the premiums of Qilin and Mengzi brands stood at 570-590 yuan/mt over the SHFE Zinc 2208 contract. At last, brands of Qilin, Mengzi and Huize were traded at 22650-22940 yuan/mt. On the whole, the transactions remained flat as the premiums dropped with suddenly increasing arrivals in the market.