Downstream Enterprises Continue Stockpiling, Ningbo Spot Premiums Rise [SMM Ningbo Spot Weekly Review]

SMM, January 10 – This week, spot premiums in Ningbo saw a slight increase, up 30 yuan/mt WoW from the weekly average price. As of this Friday, spot prices against the 2502 contract were quoted at a premium of 720 yuan/mt, with a premium of around 170 yuan/mt against the SHFE. Although multiple brands of zinc ingots arrived in the Ningbo market this week, overall supply remained insufficient. Coupled with a continuous decline in zinc prices during the week, some downstream buyers took the opportunity to stockpile ahead of the Chinese New Year, keeping spot premiums at high levels, with moderate overall trading performance. However, as downstream orders gradually weaken, spot premiums in Ningbo are expected to decline next week. » Subscribe to access historical SMM metal spot prices.