SMM, May 23:
This week, spot premiums in Ningbo fluctuated rangebound, decreasing by 60 yuan/mt WoW from the weekly average price. As of Friday this week, spot prices against the 2506 contract in Ningbo were quoted at a premium of 265 yuan/mt, and against the SHFE, at a premium of 70 yuan/mt, with the premium against the SHFE continuously expanding during the week. Affected by the maintenance of some smelters, the arrival of domestically produced zinc ingots in Ningbo was limited during the week, and the volume of imported zinc ingots also continued to decline. Some traders in the market continued to refuse to budge on prices, but downstream enterprises showed low enthusiasm for purchasing, and spot consumption performed poorly. Overall, premiums struggled to rise and remained basically stable during the week. It is expected that with the arrival of zinc ingots next week, spot premiums may decline.
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