SMM

SMM April 18 News: This week, the premiums and discounts in Guangdong rose by 270 yuan/mt WoW. As of this Friday, the mainstream 0# zinc quotations in Guangdong were at premiums of 415~465 yuan/mt against the market. The Shanghai-Guangdong price spread widened to 20 yuan/mt. This week, the contract in Guangdong shifted from the 2505 contract to the 2506 contract, and the spot premiums/discounts increased under the backwardation structure. Meanwhile, zinc prices maintained a fluctuating trend this week. Mid-week, downstream enterprises bought the dip, and the market trading atmosphere weakened by the end of the week. Recently, spot cargo of some brands in the Guangdong market has been scarce, and the reported premiums and discounts were high. With the gradual outflow of warrants, if downstream consumption does not improve significantly, the spot premiums and discounts in Guangdong are expected to weaken slightly.

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