Ningbo Zinc: Limited shipments from Ningbo, downstream players restock to meet immediate demand [SMM Midday Review]

SMM, May 6: The transaction prices of mainstream 0# zinc brands in the Ningbo market ranged around 22,835-23,030 yuan/mt. The conventional brands in Ningbo rolled over to the June 2025 (2506) contract, with spot premiums quoted at 460 yuan/mt against the contract and at parity with the Shanghai spot market. Quotations for the June 2025 (2506) contract commenced in the Ningbo region. During the first trading session, Yongchang quoted premiums of 450 yuan/mt against the 2506 contract, Qilin quoted premiums of 450-470 yuan/mt against the 2506 contract, and Huize quoted premiums of 500 yuan/mt against the 2506 contract. In the second trading session, traders raised their quotes, with Yongchang quoting premiums of 510-530 yuan/mt against the 2506 contract, Qilin quoting premiums of 550 yuan/mt against the 2506 contract, and Huize quoting premiums of 580 yuan/mt against the 2506 contract. On the first day back after the Labour Day holiday, mainstream traders in the Ningbo market rolled over to the June 2025 (2506) contract. Downstream enterprises restocked in the morning after the holiday, with moderate buying sentiment. However, as the price spread between nearby months gradually widened, spot premiums in Ningbo continued to rise, leading to a slight decline in spot transactions.

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