SMM

In Guangdong this week, premiums and discounts continued to decline, falling by 60 yuan/mt WoW. As of Friday this week, the mainstream 0# zinc quotations in the Guangdong market were at a discount of 60 to 20 yuan/mt against the market, and the Shanghai-Guangdong price spread remained unchanged. This week, arrivals in Guangdong increased, while the region is currently in the seasonal consumption off-season. Additionally, zinc prices have been rising continuously this week, leading to a decline in downstream purchasing enthusiasm under the pressure of high prices. Market trading has been sluggish, and traders have continuously lowered premiums and discounts to facilitate sales. Multiple factors have contributed to the decline in spot premiums and discounts this week. Currently, there is an adequate supply of spot cargo in the market, but downstream consumption is in the doldrums. Under these circumstances, it is expected that premiums and discounts in Guangdong will continue to decline next week.

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