Guangdong Zinc: Increased Number of Traders on Holiday, Sluggish Market Transactions [SMM Midday Review]

Jan 23, 2025, at 12:18 pm

[Guangdong Zinc: Increased Number of Traders on Holiday, Sluggish Market Transactions] SMM, January 23: The mainstream transaction price of Guangdong 0# zinc was 23,675-24,110 yuan/mt. Mainstream brands quoted spot premiums of around 20-30 yuan/mt against the 2503 contract and 60 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread widening...

SMM January 23: Mainstream transactions of Guangdong 0# zinc were at 23,675-24,110 yuan/mt. Mainstream brands quoted premiums of around 20-30 yuan/mt against the 2503 contract and 60 yuan/mt against Shanghai spot, with the Shanghai-Guangdong price spread widening. Initially, suppliers quoted a premium of 30 yuan/mt for Qilin, while other mainstream brands had no offers. In the second session, Qilin quoted a premium of 20 yuan/mt against the online price. Overall, traders further reduced shipments today. Although the futures market center moved downward, downstream had already gone on holiday, and market trading remained sluggish, with spot premiums declining further.

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