Ningbo Zinc: Downstream Raw Material Inventory High, Ningbo Premium Declines [SMM Midday Review]

SMM April 18 News: The mainstream brand 0# zinc transaction price in the Ningbo market was around 22,460-22,520 yuan/mt. The conventional brands in Ningbo quoted a premium of 180 yuan/mt against the 2505 contract and a premium of 10 yuan/mt against the Shanghai spot price. The mainstream brands in Ningbo quoted against the 2505 contract. In the first period, Yongchang quoted a premium of 180 yuan/mt against the 2505 contract, Qilin quoted a premium of 200 yuan/mt against the 2505 contract, and Honglu-v quoted a premium of 210 yuan/mt against the 2505 contract. In the second period, traders' quotations remained unchanged from the previous period. Recently, the low-price delivery of zinc ingots from Hualian and Qilin has continued to impact the Ningbo market. Coupled with feedback from some downstream users that they had stockpiled a lot in the early stage and may stop purchasing recently, while other downstream users maintained rigid demand, the overall trading performance was average, leading to a further decline in spot premiums in Ningbo today. 》Order to view SMM metal spot historical prices.