SMM

SMM February 28 News: This week, spot premiums/discounts in the Guangdong region remained unchanged from last week. As of this Friday, mainstream quotations for 0# zinc in the Guangdong market were quoted at premiums of -10~+10 yuan/mt. The Shanghai-Guangdong price spread widened to 20 yuan/mt. This week, zinc prices saw a significant downward shift in the center, with low prices prompting end-user restocking of spot zinc, leading to a noticeable improvement in market transactions. At the beginning of the week, zinc prices largely maintained last week's fluctuating trend, with moderate downstream purchasing demand and traders offering larger discounts to facilitate sales. However, on Tuesday, the open lower with a gap in zinc prices stimulated downstream purchasing enthusiasm, and under a favorable trading atmosphere, spot premiums/discounts in the Guangdong market gradually increased. As consumption continues to recover, if zinc prices continue to pull back, spot premiums in the Guangdong market are expected to rise further next week.

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