Ningbo Zinc: Downstream Orders Weaken, Market Transactions Moderate [SMM Midday Review]

SMM reported on January 9: The transaction prices of mainstream 0# zinc brands in the Ningbo market were around 24,645-24,825 yuan/mt. Conventional brands in Ningbo quoted a premium of 770 yuan/mt against the 2502 contract and a premium of 200 yuan/mt against the Shanghai spot price. In Ningbo, contract rollover quotes were made against the 2502 contract. During the first time period, Honglu-v quoted a premium of 770 yuan/mt against the 2502 contract, while Qilin quoted a premium of 820 yuan/mt against the same contract. During the second time period, traders' quotes remained unchanged from the previous period. Today, some traders received zinc ingot long-term contract arrivals. Spot premiums remained high, but many Ningbo zinc alloy plants plan to take holidays in mid-to-late January. Recently, end-user orders have gradually weakened, coupled with the presence of low-priced pre-sales of zinc ingots in Ningbo, leading to higher purchase willingness from downstream buyers. However, spot transactions showed no improvement today.

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