Ningbo Zinc: Significant Divergence Between Imported and Domestic Products, Downstream Maintains Just-in-Time Purchases [SMM Midday Review]

SMM May 13 report: The transaction prices for mainstream 0# zinc brands in the Ningbo market ranged from approximately 22,665 to 22,695 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 350 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 time slot, Yongchang quoted a premium of 480 yuan/mt against the 2506 contract, Qilin quoted premiums of 460 to 480 yuan/mt against the 2506 contract, Huize quoted a premium of 680 yuan/mt against the 2506 contract, and SMC quoted premiums of 330-360 yuan/mt against the 2506 contract. In the second time slot, traders maintained the same quotes as the previous time slot. Today, traders' quotes for domestically produced zinc ingots remained firm, but low-priced imported zinc ingots continued to flow into the Ningbo market, resulting in significant discrepancies in market quotes. However, downstream buyers preferred to purchase low-priced imported zinc ingots. Today, transactions for domestically produced spot cargo remained sluggish, and overall spot premiums continued to decline.

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