Ningbo Zinc: Downstream Just-In-Demand Purchase, Transactions Remain Poor [SMM Midday Review]

SMM News on February 19: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,870-24,010 yuan/mt. Conventional brands in Ningbo quoted a discount of 5 yuan/mt against the 2503 contract and were on parity with Shanghai spot prices. Mainstream brands in Ningbo quoted against the 2503 contract. During the first time period, Qilin quoted a discount of 10-0 yuan/mt against the 2503 contract, Honglu-v quoted a premium of 10 yuan/mt, and Huize quoted a premium of 30 yuan/mt. During the second time period, traders' quotes remained unchanged from the previous period. Recently, some downstream enterprises are still recruiting workers, and demand for raw materials has remained weak. Today, downstream buyers continued to make just-in-time procurement of zinc ingots. Amid sluggish sales, traders' spot premiums showed little improvement, and some traders remained on the sidelines, waiting for signs of recovery in downstream zinc consumption.

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