Ningbo Zinc: Imports Continue to Replenish, Premium Remains Stable [SMM Midday Review]

SMM May 27 report: The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,780-23,085 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 270 yuan/mt against the 2506 contract and at a premium of 70 yuan/mt against Shanghai spot cargo. Mainstream players in the Ningbo region were quoting against the 2506 contract. In the first time slot, Qilin quoted a premium of 270 yuan/mt against the 2506 contract, SMC quoted a delivered premium of 330 yuan/mt against the 2506 contract, and Spain quoted a delivered premium of 300 yuan/mt against the 2506 contract. In the second time slot, traders maintained their quotes from the previous time slot. Imported zinc ingots continued to arrive, replenishing supply in the Ningbo market. Spot premiums in the market remained stable today. However, with some downstream enterprises expected to take a break for the Dragon Boat Festival, their raw material stocking has been completed. The remaining enterprises are still maintaining just-in-time demand, and spot transaction performance has been average.

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