Guangdong Premiums Declined on Contract Rollover This Week [SMM Guangdong Spot Cargo Weekly Review]

Published: Apr 17, 2026 14:53

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[Zinc Prices Fluctuated at Highs During the Week, Guangdong Premiums Continued to Decline] Guangdong premiums fell by around 35 yuan/mt WoW. As of Friday, mainstream 0# zinc in Guangdong was quoted at premiums of -140~-120 yuan/mt against the market, and the Shanghai-Guangdong price spread narrowed...

This week, premiums in Guangdong decreased by about 35 yuan/mt WoW. As of this Friday, mainstream 0# zinc in Guangdong was quoted at premiums of -140~-120 yuan/mt against the market. The Shanghai-Guangdong price spread narrowed. Zinc prices stayed high this week. In the first half of the week, spot cargo shipments in Guangdong were difficult, compounded by the contract rollover in Guangdong mid-week, and the center of spot premiums moved lower. Toward the end of the week, the number of traders making shipments in the market decreased, and spot premiums rebounded slightly. Looking ahead to next week, as current spot quotations are at significant discounts to the current-month contract, traders' willingness to ship is expected to decline. With zinc prices fluctuating at highs, Guangdong premiums are expected to remain relatively firm next week.

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