Ningbo Zinc: Few Inquiries and Purchases from Downstream, Trading Sluggish [SMM Midday Review]

SMM, April 30: The transaction prices of mainstream brand 0# zinc in the Ningbo market were around 22,880-23,005 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 180 yuan/mt against the 2505 contract and at a premium of 20 yuan/mt against Shanghai spot cargo. Mainstream players in Ningbo were quoting against the 2505 contract. In the first session, Yongchang quoted a premium of 180 yuan/mt against the 2505 contract. In the second session, traders' quotes remained unchanged from the previous session. As the Labour Day holiday approached, many traders in the market were on holiday, and spot quotes were scarce. Overall premiums remained high. Downstream companies had largely completed their pre-holiday inventory restocking, and there were almost no inquiries or purchases today. Trading activity in the market was sluggish.

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