Ningbo Zinc: Imports Continue to Flow In, Premium Declines Slightly [SMM Midday Review]

SMM, May 29: The transaction prices of mainstream brand 0# zinc in the Ningbo market were around 22,820-22,980 yuan/mt. Regular brands in Ningbo were quoted at a premium of 250 yuan/mt against the 2506 contract and at a premium of 80 yuan/mt against spot cargo in Shanghai. Mainstream quotes in the Ningbo region were against the 2506 contract. In the first time slot, Yongchang quoted a premium of 250 yuan/mt against the 2506 contract, Finland quoted a premium of 230 yuan/mt against the 2506 contract, and Hualian quoted a delivered premium of 340 yuan/mt against the 2506 contract. In the second time slot, traders' quotes remained unchanged from the previous time slot. Imported zinc ingots continued to flow into the Ningbo market at month-end. Domestic traders slightly reduced spot premiums to facilitate sales. Downstream companies had largely completed their inventory preparations for the Dragon Boat Festival. Today, spot purchases were made to meet immediate needs, and transaction volumes remained generally average.

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