Ningbo Zinc: Traders Take a Passive Approach to Sales, Premiums Decline MoM [SMM Midday Review]

On March 14, SMM reported that the mainstream transaction prices of 0# zinc in the Ningbo market were around 24,155-24,255 yuan/mt. Conventional brands in Ningbo quoted a premium of 15 yuan/mt against the 2504 contract and a premium of 30 yuan/mt against Shanghai spot prices, with mainstream quotes in Ningbo referencing the 2504 contract. During the first time period, Yongchang quoted a premium of 10 yuan/mt against the 2504 contract, Qilin quoted a premium of 0-20 yuan/mt against the 2504 contract, and Honglu-v quoted a premium of 10 yuan/mt against the 2504 contract. During the second time period, traders' quotes remained unchanged from the previous period. Futures prices remained at high levels, and market traders adopted a passive selling approach. Some downstream enterprises made just-in-time procurement and then priced their purchases. Market transactions today were slightly sluggish, and spot premiums continued to decline. 》Subscribe to view historical SMM metal spot prices.