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

Published: Apr 30, 2026 16:14

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[Zinc Price Center Pulled Back During the Week, Guangdong Premiums Rose Slightly] As of Thursday, mainstream #0 zinc in Guangdong was quoted at a discount of 55-45 yuan/mt against the market price, and the Shanghai-Guangdong price spread narrowed. Recently, invoice quotas in the market tightened, reducing the number of traders making shipments. Combined with the pullback in the zinc price center during the week, downstream dip-buying increased, and traders took the opportunity to raise premiums for shipments. Multiple factors drove Guangdong premiums to rise this week......

Premiums in Guangdong rose approximately 35 yuan/mt WoW. As of Thursday, mainstream #0 zinc in Guangdong was quoted at a discount of 55-45 yuan/mt against the market price, with the Shanghai-Guangdong price spread narrowing. Recently, invoice quota tightening reduced the number of traders making shipments. Combined with a decline in the zinc price center during the week, downstream dip-buying increased, and traders raised premiums accordingly to facilitate shipments. Multiple factors drove Guangdong premiums higher this week. Looking ahead to next week, downstream restocking after the holiday is expected to provide some support for Guangdong premiums. However, if zinc prices fluctuate at highs, Guangdong premiums are expected to still face resistance on the upside and maintain a fluctuating trend.

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