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  Fewer arrivals during the week, spot premiums/discounts rose [SMM Guangdong Spot Weekly Review]

  [Less Arrivals During the Week, Spot Premiums/Discounts Rise] This week, premiums/discounts in the Guangdong region rose slightly, increasing by approximately 15 yuan/mt WoW. As of Friday this week, the mainstream 0# zinc quotations in the Guangdong market were at premiums of 350~390 yuan/mt against the market, and the Shanghai-Guangdong price spread narrowed...

• Data: SHFE, DCE market movement (May 23)

  The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 May, 2025

• Quotations for cobalt products collectively decline, with refined cobalt prices falling by 6,200 yuan. Smelters' willingness to sell Co3O4 increases [[Weekly Observation]]

• Production pace of some enterprises has slowed down, with operating rates of die-casting zinc alloy producers declining this week [SMM Weekly Review of Die-casting Zinc Alloy]

  [Production pace of some enterprises slowed down, with operating rates of die-casting zinc alloy declining this week] This week, the operating rate of die-casting zinc alloy was recorded at 56.22%, down 2.86 percentage points WoW. On the raw material side, zinc prices maintained a fluctuating trend this week, and enterprises purchased raw materials at lower prices, leading to a slight increase in raw material inventories. In terms of finished product inventories, affected by the rise in zinc prices mid-week, downstream enterprises' purchasing sentiment weakened, resulting in a decrease in outflows from warehouses and a slight increase in finished product inventories. The upward trend in the operating rate of die-casting zinc alloy this week was mainly due to the weakening demand from downstream customers of some large enterprises. To reduce finished product inventories, enterprises slowed down their production pace...

• Insufficient fundamental support, zinc prices remain weak [SMM Zinc Futures Brief Comment]

  [Insufficient Fundamental Support, Zinc Prices Remain Weak]: The most-traded SHFE zinc 2507 contract opened at 22,315 yuan/mt. After opening, SHFE zinc prices rose slightly to a high of 22,375 yuan/mt, maintained a fluctuating trend briefly, and then pulled back all the way below the daily average line. Near the end of the trading session, SHFE zinc prices dipped to a low of 22,205 yuan/mt, eventually closing down at 22,215 yuan/mt...