Ningbo Zinc: Traders continue to refuse to budge on prices, premium remains [SMM Midday Review]

SMM News on May 28: The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,875-22,980 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 270 yuan/mt against the 2506 contract and at a premium of 90 yuan/mt against Shanghai spot cargo. Mainstream players in the Ningbo region quoted prices against the 2506 contract. In the first session, Yongchang quoted a premium of 300 yuan/mt against the 2506 contract, while Spain quoted a premium of 230 yuan/mt against the 2506 contract. In the second session, traders faced difficulties in selling, and Yongchang lowered its quote to 280 yuan/mt, while Spain maintained its quote from the previous session. Today, the shipment volume in the Ningbo market remained low. Domestic traders continued to refuse to budge on prices, and spot premiums held steady. However, downstream players had previously purchased low-priced imported zinc ingots at a discount, and they now held a certain level of inventory. Trading activity in the market was sluggish today.

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