SMM, February 14: This week, spot premiums in Ningbo continued to decline, down 60 yuan/mt WoW based on the weekly average price. As of this Friday, spot prices in Ningbo against the 2503 contract were quoted at a premium of 10 yuan/mt, with a similar premium of around 10 yuan/mt against SHFE. With zinc ingots continuously arriving in the Ningbo market, the number of trading firms selling increased this week. However, downstream purchasing sentiment remained weak, as Ningbo zinc alloy plants that resumed production during the week had certain raw material inventories from before the holiday. Under just-in-time purchasing, spot transactions in the market were moderate. Spot premiums in Ningbo declined throughout the week, and premiums are expected to maintain a fluctuating trend next week.
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