Ningbo zinc market: Spot transactions were weak

In Ningbo market, #0 zinc was traded at 23230-23415 yuan/mt. The spot prices of Ningbo regular brands were quoted with discounts of 55 yuan/mt over the SHFE 2406 contract, and with premiums of 30 yuan/mt over the prices in the Shanghai market. Mainstream quotes in Ningbo market were generally against the SHFE 2406 contract. In the first trading period, Yongchang was quoted a discount of 40 ~ 50 yuan/mt over the 2406 contract, and Huize a premium of 60 yuan/mt for the contract; Honglu with discounts of 70 yuan/mt. in the second trading period, traders quoted prices at the same level as the previous period. As the price gap between Ningbo and Shanghai narrowed significantly, the shipments from Shanghai to Ningbo gradually disappeared. However, with the continuous arrival of goods in Ningbo, the market has sufficient spot goods. Due to poor demand, the spot premium and discount remained low, and spot transactions were quiet.