Ningbo Zinc: Large Arrival of Zinc Ingots at the Port, Some Traders Dumping Goods [SMM Midday Review]

SMM March 10 News: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,760-23,955 yuan/mt. Conventional brands in Ningbo quoted a premium of 5 yuan/mt against the 2504 contract and a premium of 10 yuan/mt against the Shanghai spot price, with mainstream quotes in Ningbo targeting the 2503 contract. During the first time period, Qilin quoted a delivered premium of 70 yuan/mt against the 2504 contract, Baiyin quoted a premium of 0-10 yuan/mt against the 2504 contract, and Huize quoted a premium of 80 yuan/mt against the 2504 contract. During the second time period, traders' quotes remained unchanged from the previous period. A large volume of goods arrived at Ningbo port today, with additional Qilin zinc ingots expected to arrive on Friday. The market showed ample supply, and some traders exhibited dumping sentiment, keeping Ningbo spot premiums at low levels. Downstream enterprises maintained previous rigid demand purchases, and overall transactions showed no significant improvement.

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