Ningbo Zinc: Few Offers from Traders, Spot Premiums Decline [SMM Midday Review]

SMM January 22 News: The transaction price of mainstream 0# zinc brands in the Ningbo market was around 24,105-24,265 yuan/mt. Regular brands in Ningbo quoted a premium of 85 yuan/mt against the 2502 contract and a premium of 20 yuan/mt against the Shanghai spot price, with mainstream quotes in Ningbo primarily against the 2502 contract. During the first time period, Yongchang quoted a premium of 80 yuan/mt against the 2502 contract; during the second time period, zinc ingot sales were sluggish, and Yongchang's quote was lowered to a premium of 50 yuan/mt against the 2502 contract. Spot quotes in the Ningbo market remained scarce today, as many downstream enterprises were on holiday. Amid sluggish sales, traders continued to lower spot premium quotes, with market transactions performing poorly. Spot premiums are expected to decline further.

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