Insufficient End-Use Consumption Support, Spot Premiums Continue to Fluctuate in Discount Territory [SMM Guangdong Spot Weekly Review]

Published: May 29, 2026 15:20

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[Insufficient End-Use Consumption Support, Spot Premiums Continued to Oscillate in Contango] During the week, the center of zinc prices shifted slightly downward, and downstream pricing-based purchases increased, but overall transactions remained subdued. Recently, traders making shipments in the market gradually increased, coupled with downstream consumption entering the off-season and weak purchase willingness, spot premiums lacked bottom support......

Premiums in the Guangdong region rose by 10 yuan/mt WoW. As of this Friday, the mainstream market quotation for 0# zinc in the Guangdong region was at a discount of 80-50 yuan/mt, and the Shanghai-Guangdong price spread widened. During the week, the center of zinc prices shifted slightly downward, and downstream buyers increased their point-pricing purchases, but overall transactions remained sluggish. Recently, traders making shipments in the market gradually increased. Coupled with downstream consumption entering the off-season and weak purchase willingness, spot premiums lacked sufficient support at the bottom. With zinc prices continuing to fluctuate at highs, premiums are expected to maintain volatile discounts next week.

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