Ningbo Zinc: Imports Continue to Be Presold, Domestic Zinc Transactions in Ningbo Are Sluggish [SMM Midday Review]

SMM May 9 report: The transaction prices for mainstream brand 0# zinc in the Ningbo market were around 22,805-22,915 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 550 yuan/mt against the 2506 contract and at a premium of 70 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo area were against the 2506 contract. In the first time slot, Yongchang quoted a premium of 550-580 yuan/mt against the 2506 contract, Qilin quoted a premium of 580 yuan/mt against the 2506 contract, Baiyin quoted a premium of 610 yuan/mt against the 2506 contract, and Huize quoted a premium of 680 yuan/mt against the 2506 contract. In the second time slot, traders maintained the same quotes as the previous time slot. Traders in the Ningbo market continued to stand firm on their quotes, but with the high premium on spot cargo, there were hardly any inquiries from enterprises. Additionally, imported zinc ingots in Ningbo continued to be pre-sold at low prices, squeezing out the transaction volume of domestic spot cargo. With downstream purchasing as needed, spot trades for domestic zinc ingots were sluggish today.

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