Ningbo Zinc Market: Spot premiums down on weak consumption

In Ningbo market, #0 zinc was traded at 20560-20670 yuan/mt. The spot prices of regular brand were quoted with premiums of 35 yuan/mt over the 2404 contract, and with premiums of 60 yuan/mt over the prices in the Shanghai market. Mainstream quotes in Ningbo market were generally against the 2403 contract. In the first trading period, Yongchang was quoted a premium of 40 yuan/ton for the 2403 contract, and Lanxin zinc quoted a premium of 60 yuan/ton for the 2403 contract; in the second trading period, traders quoted prices at the same level as the previous period. Recently, the downstream demand in the Ningbo market has been poor, and the spot premium has been reduced one after another, and the premium to Shanghai prices has also declined. Although the price of zinc has declined today, the downstream sentiment for receiving goods is not high, and the overall spot transaction is weak.