Ningbo Zinc: Few shipping traders, weak trading volume and turnover [SMM Midday Review]

SMM May 16 report: The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,775-22,900 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 265 yuan/mt against the 2506 contract and at a premium of 40 yuan/mt against Shanghai spot cargo. Mainstream players in Ningbo were quoting against the 2506 contract. In the first session, SMC quoted a premium of 260 yuan/mt against the 2506 contract. In the second session, traders maintained their quotes from the previous session. There were very few traders selling in the Ningbo market today, and there were hardly any quotes for domestic spot premiums. Downstream players had made significant purchases earlier, and today, there was almost no willingness to inquire or purchase. Overall, trading activity in the market was sluggish for both buyers and sellers. Attention should be paid to the arrival of zinc ingots in the market next week.

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