Ningbo Zinc: Traders Stand Firm on Quotes, Premiums Continue to Rise [SMM Midday Review]

SMM February 28 News: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,485-23,600 yuan/mt. Conventional brands in Ningbo quoted a premium of 30 yuan/mt against the 2503 contract and a premium of 30 yuan/mt against Shanghai spot. Mainstream brands in Ningbo quoted against the 2503 contract. During the first time period, Qilin quoted a premium of 40-50 yuan/mt against the 2503 contract, Honglu-v quoted a premium of 30 yuan/mt against the 2503 contract, and Baiyin quoted a premium of 40 yuan/mt against the 2503 contract. During the second time period, traders' quotes remained unchanged from the previous period. Today, there were few traders offering goods in the Ningbo market. Traders continued to stand firm on quotes, and premiums in Ningbo continued to rise. However, downstream enterprises had previously purchased at lower prices and currently hold a certain level of raw material inventory, leading to low purchasing inquiries today. Overall, spot cargo transactions weakened.

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