Ningbo Zinc: Limited market supply, traders continue to refuse to budge on prices [SMM Midday Review]

SMM, May 21: The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,790-22,925 yuan/mt. The mainstream brands in Ningbo offered a premium of 265 yuan/mt against the 2506 contract and a premium of 60 yuan/mt against the Shanghai spot cargo. The mainstream market in Ningbo quoted prices against the 2506 contract. In the first session, Qilin offered a premium of 340 yuan/mt for delivery against the 2506 contract. In the second session, traders maintained the same quotes as the previous session. Despite the rise in the futures market, the supply in the Ningbo market was limited today. Domestic traders continued to refuse to budge on prices, and spot premiums remained stable. Downstream buyers inquired and purchased on a need-by-need basis, with trading activity being slightly sluggish.

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