Transactions in Guangdong Zinc Market Were Sluggish Amid High Zinc Prices

#0 zinc in Guangdong was traded at 21625~21700 yuan/mt today. Mainstream brands were quoted with premiums of 10~20 yuan/mt over SHFE 2312 zinc contract, with discounts of 50 yuan/mt against Shanghai prices.

In the first trading session, Qilin, Huize and Mengzi zinc was quoted with discounts of 20~30 yuan/mt. Traders sold aggressively, lowering spot premiums rapidly. In the second period, Qilin and Mengzi zinc were offered with premiums of 0~10 yuan/mt. Many sellers sold goods but high zinc prices resulted in poor trading. Most downstream buyers were on the sidelines. Some sellres sold with discounts against the front-month contract.