#0 zinc in Ningbo was quoted with premiums of 230-290 yuan/mt over SHFE 2307 zinc contract last week, and with discounts of 60 to premiums of 20 yuan/mt against Shanghai prices. Spot quotes against SHFE zinc prices and over Shanghai prices both fell rapidly.
There was large inflows of imported zinc with prices flat from the average SMM #0 zinc price on a delivery to factory basis. Some downstream plants purchased cheap imported zinc, and shipments of ordinary brands such as Tiefeng were poor. Higher zinc prices during the week also suppressed the downstream enthusiasm for purchases. On the whole, the spot trading in Ningbo market continued to be poor. This week, spot premiums will continue to fall.
