Ningbo zinc: Traders sell casually, market premiums basically stable [SMM midday review]

SMM News on September 3:

     In the Ningbo market, transaction prices for mainstream 0# zinc brands were around 26,505-26,870 yuan/mt. Ningbo conventional brands were quoted at a discount of 55 yuan/mt against the 2610 contract and a premium of 45 yuan/mt against Shanghai spot cargo, with mainstream quotes in Ningbo referencing the 2610 contract. In the first time window, Qilin and Anning were quoted at a discount of 60-50 yuan/mt against the 2610 contract, while Honglu -v (99.998) was quoted at a discount of 30 yuan/mt against the 2610 contract; in the second time window, traders’ quotes were unchanged from the previous window. In the morning session, futures zinc prices rebounded WoW, while downstream fear of high prices persisted. Downstream enterprises remained on the sidelines today, with almost no inquiries or purchase willingness. Traders were indifferent about shipments, spot premiums changed relatively little, and overall trading was sluggish.