Ningbo Zinc: Few Market Quotations From Traders, Spot Premiums Raised [SMM Midday Review]

SMM March 11 News: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,580-23,790 yuan/mt. Regular brands in Ningbo quoted a premium of 30 yuan/mt against the 2504 contract and a premium of 20 yuan/mt against the Shanghai spot price. Mainstream quotes in Ningbo were based on the 2503 contract. During the first time period, Qilin quoted a delivered premium of 100-110 yuan/mt against the 2504 contract, while Baiyin quoted a premium of 40 yuan/mt against the 2504 contract. During the second time period, traders' quotes remained unchanged from the previous period. Qilin zinc ingots continued to arrive at Ningbo Port, while some traders' zinc ingots were expected to be stored in warehouses by tomorrow. There were limited self pick-up quotes in the market today, coupled with a slight decline in the futures market in the morning. Some downstream enterprises made purchases at lower price points, leading to an improvement in spot transactions. Premiums were also raised today.

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