Spot Zinc Prices in Ningbo Fell Sharply Last Week

Ningbo: #0 zinc in Ningbo was quoted with premiums of 180-270 yuan/mt over SHFE 2306 zinc contract last week, falling rapidly. The premiums fell to 0-70 yuan/mt against Shanghai prices.

In the first half of the week, the high spot premiums in the Ningbo market dented downstream buying. Sellers then lowered spot premiums due to increasing arriving shipments. That, together with continuously falling SHFE zinc prices, improved trades. There has been an inflow of imported zinc, which is popular with downstream buyers due to cheaper prices.