Ningbo Zinc: Limited Supply in the Trade Market, Premiums Remain Stable [SMM Midday Review]

SMM April 24 News: The mainstream brand 0# zinc transaction price in the Ningbo market was around 22,945-23,010 yuan/mt. The conventional brand in Ningbo quoted a premium of 195 yuan/mt against the 2505 contract, on par with the Shanghai spot price, and the mainstream in Ningbo quoted against the 2505 contract. In the first period, Qilin quoted a delivered premium of 250 yuan/mt against the 2505 contract, Honglu-v quoted a premium of 180 yuan/mt against the 2505 contract, and Huize quoted a premium of 320 yuan/mt against the 2505 contract. In the second period, traders' quotations remained unchanged from the previous period. The zinc ingot supply in the Ningbo trade market was still limited, and traders' spot premiums remained high and stable. However, the futures market continued to fluctuate at highs, dampening downstream buying sentiment. Coupled with the previous delivery of purchases by some downstream enterprises and imported zinc ingots, spot transactions today were generally moderate.

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