Ningbo Zinc: Limited Market Quotations, Premiums Continue to Decline [SMM Midday Review]

SMM January 10 News: The mainstream transaction price of 0# zinc in the Ningbo market was around 24,760-24,860 yuan/mt. Regular brands in Ningbo quoted a premium of 720 yuan/mt against the 2502 contract and a premium of 170 yuan/mt against Shanghai spot. Mainstream quotations in Ningbo were based on the 2502 contract. During the first time period, Honglu-v quoted a premium of 720 yuan/mt against the 2502 contract, while Qilin quoted a premium of 740 yuan/mt against the 2502 contract. During the second time period, traders' quotations remained unchanged from the previous period. The futures market continued to fluctuate downward, with downstream enterprises gradually starting their holiday schedules. Coupled with the continuous arrival of pre-sold zinc ingots and the completion of stockpiling by some enterprises, downstream purchasing sentiment remained low today. Traders lowered their spot premium quotations, and premiums are expected to weaken further in the future.

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