Ningbo Zinc: Premiums Continue to Decline, Transactions Remain Sluggish [SMM Midday Review]

SMM News, February 19: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,820-23,910 yuan/mt. Conventional brands in Ningbo quoted a discount of 10 yuan/mt against the 2503 contract and a premium of 10 yuan/mt against Shanghai spot. Mainstream quotations in Ningbo were made against the 2503 contract. During the first time period, Yongchang quoted on par with the 2503 contract, Qilin quoted at a discount of -10 to 0 yuan/mt against the 2503 contract, and Honglu-v quoted at a premium of 10 yuan/mt against the 2503 contract. During the second time period, traders' quotations remained unchanged from the previous period. Qilin zinc ingots continued to arrive in the Ningbo market, but downstream enterprises showed a slightly slow recovery in orders. Under purchasing as needed, the purchase willingness for zinc ingots was average, leading to a further decline in Ningbo spot premiums, with spot transactions also remaining sluggish.

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