#0 zinc in Ningbo was quoted with premiums of 170-200 yuan/mt over SHFE 2307 zinc contract last week, and with discounts of 40-30 yuan/mt against Shanghai prices. Spot quotes against SHFE zinc prices continued to fall while those against Shanghai prices were stable.
The continuous inflows of imported zinc impacted the domestic zinc market, muting trades of Tiefeng and Yongchang brands. As most downstream manufacturers planned to close during the Dragon Boat Festival holidays, pre-holiday stockpiling was subdued. This week, spot premiums will fall further.