Ningbo Zinc: Qilin Zinc Ingot Arrives, Spot Premiums Edge Lower [SMM Midday Commentary]

SMM, March 25: In the Ningbo market, the transaction price of mainstream brand 0# zinc was around 24,100 to 24,220 yuan/mt. The Ningbo regular brands quoted a premium of 30 yuan/mt against the 2504 contract and a premium of 40 yuan/mt against the Shanghai spot. In the Ningbo area, the main quotations were made against the 2504 contract. During the first period, Qilin quoted a delivery of 90 yuan/mt against the 2504 contract, Honglu-v quoted a premium of 20 yuan/mt against the 2504 contract, Haxin quoted a discount of 40 yuan/mt against the 2504 contract, and Huize quoted a premium of 80 yuan/mt against the 2504 contract. During the second period, traders' quotes remained flat compared to the previous period. Qilin zinc ingot arrived at the Ningbo port, supplementing the market's spot volume. With the futures market remaining at a high level, downstream buyers purchased as needed. Today, the spot transactions were average, and the overall premium declined slightly MoM.