Ningbo Zinc: Increased Quotations from Traders, Spot Premiums Hold Steady [SMM Midday Review]

SMM, May 19: The transaction prices of mainstream 0# zinc brands in the Ningbo market ranged from approximately 22,660 to 22,775 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 270 yuan/mt against the 2506 contract and at a premium of 40 yuan/mt against spot cargo in Shanghai. The mainstream in Ningbo region quoted prices against the 2506 contract. In the first session, Yongchang quoted premiums of 270 to 280 yuan/mt against the 2506 contract, while Baiyin and SMC quoted premiums of 280 yuan/mt against the 2506 contract. In the second session, traders maintained their quotes from the previous session. With the arrival of long-term contract zinc ingots, the number of traders shipping goods out of Ningbo increased today. The futures market declined slightly, and traders maintained stable spot premium quotes. Downstream consumers restocked to some extent amid lower prices, and spot transaction performance was moderate.

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