Ningbo Zinc: Traders' Quotations Remain Low, Premiums Stay High [SMM Midday Review]

SMM, May 22: The transaction prices of mainstream brand 0# zinc in the Ningbo market ranged from approximately 22,685 to 22,785 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 260 yuan/mt against the 2506 contract and at a premium of 60 yuan/mt against Shanghai spot cargo. Mainstream quotes in Ningbo were against the 2506 contract. In the first time slot, Qilin quoted a premium of 350 yuan/mt for delivery against the 2506 contract, Baiyin quoted a premium of 280 yuan/mt against the 2506 contract, and SMC quoted a premium of 250 yuan/mt against the 2506 contract. In the second time slot, traders maintained the same quotes as the previous time slot. The supply of domestically produced zinc ingots in Ningbo was limited. Today, traders in the market continued to quote spot premiums at a high level. Some downstream companies had built up certain inventory through purchases earlier, and spot transactions remained sluggish today.

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