Ningbo Zinc: Few Market Quotations from Traders, Sluggish Transactions [SMM Midday Review]

SMM reported on January 17: The transaction prices of mainstream 0# zinc brands in the Ningbo market were around 24,090-24,485 yuan/mt. Conventional brands in Ningbo quoted a premium of 405 yuan/mt against the 2502 contract and a premium of 50 yuan/mt against Shanghai spot. Mainstream quotes in Ningbo were based on the 2502 contract. During the first time period, Qilin quoted a premium of 400 yuan/mt against the 2502 contract; during the second time period, traders' quotes remained unchanged from the previous period. Some traders had completed pre-sale shipments earlier, and there were almost no shipment quotes in the market today. Coupled with downstream sectors gradually entering the holiday mode, raw material demand decreased, and low-priced zinc ingots from Guangdong impacted the Ningbo market. Spot trades in Ningbo were sluggish today.

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