This week, spot premiums/discounts in the Guangdong region decreased by around 20 yuan/mt WoW. As of Friday, mainstream #0 zinc quotations in Guangdong were at discounts of 110~90 yuan/mt against the market, with the Shanghai-Guangdong price spread holding steady. During the week, zinc prices fluctuated with an upward center, while downstream buyers mainly engaged in just-in-time procurement, and market sentiment remained largely wait-and-see. Although traders generally refused to budge on prices and showed limited willingness to sell due to the low discounts, spot premiums/discounts struggled to rise under the dual pressure of mediocre consumption performance and rising zinc prices, overall maintaining low-level fluctuations. The market remains in a loose supply pattern, and consumption performance in Guangdong is also relatively mediocre. It is expected that spot premiums/discounts will continue to fluctuate at low levels next week.
