SMM reported on July 15:
The mainstream transactions of 0# zinc in Guangdong were concluded at 22,000-22,125 yuan/mt. Mainstream brands were quoted at a discount of 40 yuan/mt against the 2508 contract and at a discount of 70 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread remained unchanged. In the first session, suppliers quoted Qilin, Mengzi, Anning, Feilong, and Lanxin brands at a discount of 70-30 yuan/mt against the online price. In the second session, Qilin, Mengzi, Anning, and Lanxin brands were quoted at a discount of 70-30 yuan/mt against the online price. Overall, Guangdong's inventory increased by nearly 2,000 mt from yesterday, and the spot cargo circulation in the market was loose. However, downstream consumption was sluggish. Despite the continued decline in the futures market today, market transactions remained poor. The price spread between futures contracts widened today, but spot premiums/discounts remained unchanged from yesterday due to demand influences.
