Ningbo Zinc: Downstream Enterprises Build Inventories at Lower Prices, Spot Premiums Moderate [[SMM Midday Review]]

SMM News on April 28: The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,880-22,970 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 175 yuan/mt against the 2505 contract and at a premium of 10 yuan/mt against Shanghai spot cargo. Mainstream players in Ningbo quoted prices against the 2505 contract. In the first session, Yongchang quoted prices at a premium of 170-200 yuan/mt against the 2505 contract, while Qilin quoted delivered prices at a premium of 240 yuan/mt against the 2505 contract. In the second session, traders' quotes remained unchanged from the previous session. The futures market declined slightly today, prompting some downstream players to buy the dip and stockpile, with overall transaction performance being moderate. Additionally, there were not many traders shipping goods in the Ningbo market today, and spot premiums remained stable.

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