Ningbo Zinc: Market Quotes Diverge, Spot Zinc Transactions Show No Improvement [SMM Midday Review]

Published: Jul 3, 2026 13:17

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[Ningbo Zinc: Market Quotes Diverge, Spot Transactions Remain Unimproved] In the Ningbo market, the transaction price of mainstream 0# zinc was around 24,160-24,390 yuan/mt. Ningbo conventional brands were quoted at a discount of 30 yuan/mt against the 2608 contract, a premium of 35 yuan/mt against Shanghai spot cargo, and in the Ningbo area mainstream quotes were against the 2608 contract..

SMM, Jul 3:

The mainstream brand #0 zinc in the Ningbo market was traded at approximately 24,160–24,390 yuan/mt. Conventional brands in Ningbo were quoted at a discount of 30 yuan/mt against the 2608 contract and at a premium of 35 yuan/mt against Shanghai spot cargo. In Ningbo, quotes were mainly based on the 2608 contract. In the first session, Yongchang was quoted at a discount of 30–0 yuan/mt against the 2608 contract, Anning at a discount of 30–20 yuan/mt, Qilin at a discount of 40 yuan/mt, and Honglu-V (99.998) at parity against the 2608 contract. In the second session, trader quotes remained unchanged from the previous session. Transactions in the Ningbo spot market were sluggish today. During the off-season, downstream alloy enterprises saw weaker orders. Zinc futures consolidated in the morning, downstream enterprises continued to show limited inquiries, and trader quotes demonstrated some divergence, though the overall premium remained basically stable.

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