Ningbo Zinc: Futures Market Remains High, Spot Premiums Maintained [SMM Midday Review]

SMM March 27 News: The transaction price of mainstream brand 0# zinc in the Ningbo market was around 24,115-24,180 yuan/mt. The premium of conventional brands in Ningbo against the 2504 contract was 25 yuan/mt, and the premium against Shanghai spot cargo was 40 yuan/mt. Mainstream brands in Ningbo quoted against the 2504 contract. In the first period, Yongchang quoted a premium of 40 yuan/mt against the 2504 contract, Qilin quoted a premium of 40 yuan/mt against the 2504 contract, Honglu-v quoted a premium of 20 yuan/mt against the 2504 contract, and Huize quoted a premium of 80 yuan/mt against the 2504 contract. In the second period, traders' quotations remained unchanged from the previous period. Traders in the Ningbo market mainly focused on selling, while downstream rigid demand for purchases remained unchanged. Coupled with the persistently high futures market, the upward momentum of spot premiums was insufficient. Although some downstream companies began to stock up for the Qingming Festival, overall transactions remained average.

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