Ningbo Zinc: High Spot Premiums, Downstream Buyers Priced on Dips [SMM Midday Review]

SMM January 6 News: The transaction prices of mainstream 0# zinc brands in the Ningbo market were around 25,110-25,250 yuan/mt. Conventional brands in Ningbo quoted a premium of 450 yuan/mt against the 2501 contract and a premium of 100 yuan/mt against Shanghai spot. Mainstream quotations in Ningbo were made against the 2501 contract. During the first time period, Qilin quoted a premium of 450 yuan/mt against the 2501 contract, Honglu-V quoted a premium of 470 yuan/mt against the 2501 contract, and Huize quoted a premium of 600 yuan/mt against the 2501 contract. During the second time period, traders' quotations remained unchanged from the previous period. Today, the number of traders delivering goods in Ningbo increased, but the overall market supply remained tight. Spot premiums stayed at high levels, futures prices remained low, and downstream buyers made just-in-time procurement at low prices, improving overall spot transactions.

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