Ningbo Zinc: Poor Downstream Purchase, Premiums Continue to Decline [SMM Midday Review]

SMM News, January 14: The mainstream transaction prices of 0# zinc in the Ningbo market were around 24,645-24,840 yuan/mt. Conventional brands in Ningbo quoted a premium of 565 yuan/mt against the 2502 contract and a premium of 80 yuan/mt against Shanghai spot. Mainstream quotations in Ningbo were based on the 2502 contract. During the first time period, Qilin quoted a premium of 570 yuan/mt against the 2502 contract, while Honglu-v quoted a premium of 590 yuan/mt against the 2502 contract. During the second time period, traders faced sluggish sales and lowered Honglu-v's premium quotation to 530 yuan/mt, while Qilin's quotation remained unchanged from the previous period. Zinc prices fluctuated in the futures market, and traders continued to lower spot premiums to facilitate sales. However, downstream manufacturers in Ningbo are expected to go on holiday soon, leading to a significant decline in raw material purchase demand. Inquiry sentiment was relatively low today, and market transactions performed poorly.

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