Ningbo Zinc: High Number of Downstream Holidays, Market Remains Sluggish [SMM Midday Review]

SMM News on January 21: The mainstream transaction price of 0# zinc in the Ningbo market was around 24,325-24,465 yuan/mt. Conventional brands in Ningbo quoted a premium of 170 yuan/mt against the 2502 contract and a premium of 20 yuan/mt against the Shanghai spot price. Mainstream quotations in Ningbo were made against the 2502 contract. During the first time period, Qilin quoted a premium of 170 yuan/mt against the 2502 contract; during the second time period, traders' quotations remained unchanged from the previous period. This week, trading merchants in Ningbo gradually entered holiday mode, with some traders indicating that long-term contract goods would arrive after the holiday. Today, the market still saw almost no spot cargo quotations, and downstream buyers, mostly on holiday, also showed no purchase inquiries. The market atmosphere remained sluggish.

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