Ningbo Zinc: Imported zinc ingots flow in at low prices, Ningbo premium drops significantly [SMM Midday Review]

SMM, May 12: The transaction prices of mainstream brand 0# zinc in the Ningbo market were around 22,580-22,925 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 450 yuan/mt against the 2506 contract and at a premium of 20 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo region were against the 2506 contract. In the first session, Yongchang quoted a premium of 480 yuan/mt against the 2506 contract, Qilin quoted premiums of 450-480 yuan/mt against the 2506 contract, Huize quoted a premium of 680 yuan/mt against the 2506 contract, and SMC quoted an average price delivered at parity against the 2506 contract. In the second session, SMC slightly raised its premium, while other traders maintained their quotes from the previous session. Recently, imported zinc ingots have arrived in the Ningbo market, and low-priced sales have impacted domestic spot transactions. To facilitate sales, traders have voluntarily lowered today's spot premiums, but downstream demand remains steady, and spot transaction performance has been average.

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