Guangdong Zinc?Futures market rose, downstream mostly in wait-and-see mode SMM March 24:In Guangdong, mainstream transactions of 0# zinc were at 23,935 to 24,225 yuan/mt. Mainstream brands quoted a discount of 15 yuan/mt against the 2505 contract and on par with Shanghai spot, with the Shanghai-Guangdong price spread narrowing. In the first session, suppliers offered discounts of 35 to 5 yuan/mt for Qilin, Mengzi, Huize, Feilong, and Lanxin. In the second session, Qilin and Mengzi were at discounts of 15 to 10 yuan/mt against the online price. Overall, zinc prices continued to rise today. Although there was some inquiry from the downstream, they were relatively wary of high prices. End-users with inventory replenishment plans showed strong sentiment of waiting and watching, leading to suppressed purchasing enthusiasm. The overall market transactions weakened, and the difficulty in trading spot zinc led to a decline in spot premiums and discounts today.

Source: SMM NEWS