Ningbo Zinc: Continuous Arrivals at the Port, Premiums Remain Low [SMM Midday Review]

SMM News on February 25: The transaction price of mainstream 0# zinc brands in the Ningbo market was around 23,560-23,660 yuan/mt. Conventional brands in Ningbo quoted a discount of 30 yuan/mt against the 2503 contract and a discount of 20 yuan/mt against Shanghai spot prices, with mainstream quotes in Ningbo based on the 2503 contract. During the first time period, Yongchang quoted a discount of 30 yuan/mt against the 2503 contract, Qilin quoted a discount of 30 yuan/mt against the 2503 contract, Honglu-v quoted a premium of 20 yuan/mt against the 2503 contract, and Huize quoted a premium of 50 yuan/mt against the 2503 contract. During the second time period, traders' quotes remained unchanged from the previous period. Zinc ingots continued to arrive at Ningbo Port, steadily replenishing the zinc ingot supply in the Ningbo market. Under the impact of low prices, downstream enterprises showed a preference for purchasing delivered zinc ingots, which squeezed the transactions of self pick-up zinc ingots from warehouses. Additionally, spot premiums remained at low levels, and overall spot market transactions were average.

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