Ningbo Zinc: Last Trading Day Before the Holiday, SMM Wishes Everyone Good Luck in the Year of the Snake [SMM Midday Review]

[Downstream cautious at highs with fewer inquiries; spot trading sentiment subdued this week]: This week, the average spot premium in Shanghai rose by 15 yuan/mt WoW. As of Friday this week, ordinary domestic brands were quoted at a discount of 50-40 yuan/mt against the 2610 contract, while the high-priced Shuangyan brand had no quotes against the 2610 contract.

[Zinc futures prices rise notably, spot premiums in the doldrums]: This week, Ningbo spot premiums consolidated, with the average price up 10 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2610 contract were quoted at a discount of 55 yuan/mt, and at a premium of 45 yuan/mt against the Shanghai premium.

[El consumo sigue lento; las tasas operativas de galvanizado se mantienen bajas]: Esta semana, la tasa operativa de la industria de galvanizado fue del 51,80 %, un aumento de 0,17 puntos porcentuales intermensual. En cuanto a las materias primas, los precios del zinc continuaron consolidándose en niveles altos esta semana. La aceptación de precios altos por parte de los compradores intermedios fue limitada, con compras principalmente basadas en la necesidad y un fuerte sentimiento de espera. El inventario de materias primas se mantuvo en niveles bajos en general, con poca disposición a acumular existencias.