Guangdong Market Lacks Consumption Momentum, Spot Premiums/Discounts Declined This Week [SMM Guangdong Spot Weekly Review]

Feb 21, 2025, at 7:38 am

[Weak Consumption in Guangdong Market, Spot Premiums/Discounts Declined This Week] Spot premiums/discounts in Guangdong continued to decline this week, down 40 yuan/mt WoW based on the weekly average price. As of this Friday, mainstream quotations for 0# zinc ingot in the Guangdong market were quoted at discounts of -70~-30 yuan/mt against the market, and the Shanghai-Guangdong price spread widened to 50 yuan/mt...

SMM, February 21: This week, spot premiums/discounts in Guangdong declined, with the weekly average price down 10 yuan/mt WoW. As of this Friday, mainstream quotations for 0# zinc in the Guangdong market were quoted at discounts of -80~-50 yuan/mt, and the Shanghai-Guangdong price spread narrowed to 20 yuan/mt. This week, the overall center of zinc prices moved upward, while downstream consumption showed no significant improvement, mainly recovering. As a result, the rising zinc prices at the end of the week suppressed downstream purchasing demand, and overall consumption remained unchanged, leading to a decline in spot premiums. Currently, traders report that end-user orders are relatively few, with weak purchasing power. Over time, spot premiums are expected to see a slight rebound, but given the current weak consumption outlook, spot premiums are expected to fluctuate downward next week. 》Click to view the SMM Metal Industry Chain Database

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