Ningbo Zinc: More Traders Selling, Premiums Continue to Decline [SMM Midday Review]

Published: Feb 24, 2025 11:30

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[Ningbo Zinc: Increased Trader Shipments, Premiums Continue to Decline] The mainstream transaction price of 0# zinc in the Ningbo market was around 23,890-24,045 yuan/mt. Conventional brands in Ningbo quoted a discount of 25 yuan/mt against the 2503 contract and on par with Shanghai spot prices. Mainstream brands in Ningbo quoted against the 2503 contract...

SMM, February 24: The mainstream transaction price of #0 zinc ingot in the Ningbo market was around 23,890-24,045 yuan/mt. Conventional brands in Ningbo quoted a discount of 25 yuan/mt against the 2503 contract and on par with Shanghai spot prices. Mainstream quotes in Ningbo were based on the 2503 contract. During the first time period, Qilin quoted a discount of 30 yuan/mt against the 2503 contract, Honglu-v quoted on par with the 2503 contract, and Huize quoted a premium of 100 yuan/mt against the 2503 contract. During the second time period, traders' quotes remained unchanged from the previous period. There were many traders offering goods in the Ningbo market, with sufficient zinc ingot supply, but downstream purchasing sentiment remained low. Some traders in the market further lowered spot quotes to facilitate sales, leading to a continued decline in Ningbo premiums. Overall transactions today showed no improvement WoW.

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