Ningbo Zinc: Some Traders Dump Goods, Premiums Continue to Decline [SMM Midday Review]

SMM February 17 News: The transaction prices of mainstream 0# zinc brands in the Ningbo market were around 23,590-23,865 yuan/mt. Conventional brands in Ningbo quoted a premium of 5 yuan/mt against the 2503 contract and on par with Shanghai spot prices. Mainstream quotes in Ningbo were based on the 2503 contract. During the first time period, Qilin quoted on par with the 2503 contract, Honglu-v quoted a premium of 20 yuan/mt against the 2503 contract, and Huize quoted a premium of 100 yuan/mt against the 2503 contract. During the second time period, traders' quotes remained unchanged from the previous period. Over the weekend, long-term contract zinc ingots continued to arrive in the Ningbo market. The futures market rebounded from a low level in the morning. Today, some traders sold at parity, leading to a slight decline in spot premiums. Downstream buyers actively purchased low-priced zinc ingots, but transactions from other sellers remained sluggish. Overall trading was still moderate, and further attention is needed on the recovery of downstream consumption.

》Subscribe to View SMM Historical Spot Metal Prices