Premiums Remain High, Focus on Next Week's Arrivals [SMM Ningbo Spot Weekly Review]

SMM reported on February 7: This week, spot premiums in Ningbo rebounded from lows, up 75 yuan/mt WoW based on the weekly average price. As of this Friday, spot prices in Ningbo against the 2503 contract were quoted at a premium of 110 yuan/mt, and at a premium of around 40 yuan/mt against SHFE. Due to the impact of logistics and transportation, long-term contracts for some zinc ingots in Ningbo saw almost no arrivals, and the arrivals of other zinc ingot brands were also limited. Traders' sentiment to stand firm on quotes supported spot premiums to fluctuate at highs. However, downstream zinc alloy plants mostly resumed operations next week, with limited recovery in zinc ingot demand, leading to average spot trades this week. Next week, as downstream enterprises gradually resume operations and zinc ingots also gradually arrive, premiums are expected to fluctuate.

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