Some smelters resume production after maintenance, spot premium expected to weaken next week [SMM Ningbo Spot Weekly Review]

SMM, May 30:

This week, spot premiums in Ningbo fluctuated but remained stable, decreasing by 5 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 250 yuan/mt, and against the SHFE premium at 80 yuan/mt, with the SHFE premium maintaining a high level during the week. The domestic zinc ingot supply in the Ningbo market was limited this week, and traders continued to refuse to budge on prices, keeping spot premiums stable during the week. Despite the approaching Dragon Boat Festival holiday, with some downstream enterprises stockpiling, most enterprises still maintained just-in-time demand, and spot transaction performance did not show significant improvement. With the conclusion of maintenance at some smelters and the gradual arrival of zinc ingots, spot premiums are expected to decline next week.

》Subscribe to view SMM metal spot historical prices