Ningbo Zinc: Limited Resumption of Downstream Operations, Transactions Remain Sluggish [SMM Midday Review]

SMM reported on February 7: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,730-24,020 yuan/mt. Conventional brands in Ningbo quoted a premium of 110 yuan/mt against the 2503 contract and a premium of 40 yuan/mt against the Shanghai spot price. Mainstream quotations in Ningbo were made against the 2503 contract. During the first time period, Qilin quoted a delivered premium of 170-200 yuan/mt against the 2503 contract, while Honglu-v quoted a premium of 110 yuan/mt against the 2503 contract. During the second time period, traders' quotations remained unchanged from the previous period. Today, traders adopted a passive quoting approach, with spot premiums remaining high. However, most zinc alloy plants in Ningbo are expected to resume operations next week, and today's market transactions remained sluggish. Continued attention will be paid to the resumption of operations by enterprises next week.

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