Ningbo Zinc: Limited market supply, premium remains stable [SMM Midday Review]

SMM, May 30: The transaction prices of mainstream 0# zinc brands in the Ningbo market ranged from approximately 22,800 to 22,940 yuan/mt. Conventional 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 prices in Shanghai. Mainstream quotes in Ningbo 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, Hualian quoted a delivered premium of 340 yuan/mt against the 2506 contract, and Huize quoted a premium of 350 yuan/mt against the 2506 contract. In the second time slot, traders' quotes remained unchanged from the previous time slot. Some long-term contracts for zinc ingots were arriving successively, but the overall supply in Ningbo remained limited. Spot premiums held steady, downstream buyers had largely completed their procurement and inventory stocking, and market transactions remained average.

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