Guangdong Zinc: Today’s Guangdong Contract Rollover Quotes, Spot Transactions Remained Ordinary [SMM Midday Review]

SMM, July 16 – Guangdong #0 zinc traded mainly at yuan 24,440-24,570/mt. Mainstream brands were quoted at discounts of yuan 145-125/mt against the 2608 contract and a discount of yuan 70/mt against spot Shanghai, widening the Shanghai-Guangdong price spread. Suppliers offered discounts of yuan 105-85/mt for the Qilin, Mengzi, Huize, Danxia, Anning, and Feilong brands. Today, Guangdong's refined zinc purchase willingness was 1.98, and sales sentiment was 2.55. Guangdong shifted its quotes to the 2609 contract today due to contract rollover. Although the futures center pulled back somewhat today, overall end-use demand remained sluggish. Some downstream enterprises had relatively ample inventories, leading to weak purchase willingness. The market mainly consumed its own inventories, and premiums consolidated at lows.