Premiums and discounts in Guangdong rose by about 25 yuan/mt WoW. As of Friday, mainstream 0# zinc was quoted at a discount of 15 yuan/mt against the market, and the Shanghai-Guangdong price spread narrowed. Warehouse inflows in Guangdong were low during the week, and some downstream enterprises restocked on dips, jointly driving a slight rise in premiums and discounts. Although zinc ingot inventory in Guangdong edged down, the overall level remained high, with ample supply in circulation, while downstream procurement was still mainly for rigid demand, and overall consumption remained stable, with no significant boost in the market. Premiums and discounts in Guangdong are expected to continue fluctuating next week, with limited upside room.
