Ningbo Zinc: Downstream Gradually Goes on Holiday, Market Transactions Sluggish [SMM Midday Review]

SMM January 15 News: The mainstream transaction price of 0# zinc in the Ningbo market was around 24,165-24,585 yuan/mt. Regular brands in Ningbo quoted a premium of 515 yuan/mt against the 2502 contract and a premium of 90 yuan/mt against Shanghai spot. Mainstream quotations in Ningbo were based on the 2502 contract. During the first time period, Yongchang quoted a premium of 520 yuan/mt against the 2502 contract, Qilin quoted a premium of 520 yuan/mt against the 2502 contract, and Honglu-v quoted a premium of 500 yuan/mt against the 2502 contract. During the second time period, Honglu-v lowered its premium quotation to 430 yuan/mt, while others maintained quotations unchanged from the previous time period. The futures market showed a significant decline today. As year-end approached, traders offloaded inventory, and spot premiums continued to decline. Some downstream enterprises restocked on a need basis at lower prices, but the overall market performance remained sluggish.

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