More Companies on Holiday, Market Spot Premiums/Discounts Drop Significantly [SMM Guangdong Spot Weekly Review]

Jan 24, 2025, at 1:57 pm

[More Enterprises on Holiday, Market Spot Premiums/Discounts Dropped Significantly] This week, spot premiums/discounts in Guangdong saw a significant decline, down 355 yuan/mt WoW in weekly average price. As of this Friday, mainstream quotations for 0# zinc in the Guangdong market were quoted at premiums of -10~0 yuan/mt against the 2503 contract, and the Shanghai-Guangdong price spread narrowed to 40 yuan/mt...

SMM, January 24: This week, spot premiums/discounts in the Guangdong region dropped significantly, with the weekly average price down by 355 yuan/mt WoW. As of this Friday, mainstream quotations for 0# zinc in the Guangdong market against the 2503 contract were quoted at premiums of -10~0 yuan/mt, and the Shanghai-Guangdong price spread narrowed to 40 yuan/mt. Most downstream enterprises and factories in Guangdong had already gone on holiday this week, and large factories that were still in production earlier also entered the shutdown and wrap-up phase by mid-week. Meanwhile, market shipments by traders also decreased during the week, and overall market transactions were sluggish in the latter half of the week. To facilitate shipments, traders lowered premiums, leading to a significant decline in premiums this week. After the holiday, social inventory may see a slight buildup, and premiums are expected to fluctuate downward at low levels. 》Click to view the SMM Metal Industry Chain Database

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