Ningbo Zinc: Traders Lower Spot Premiums, Enterprises Purchase Cargo as Needed [SMM Midday Review]

SMM June 9 news:

In the Ningbo market, the mainstream brand #0 zinc ingot transaction price ranged around 22,540-22,615 yuan/mt. Conventional brands in Ningbo quoted a premium of 330 yuan/mt against the 2507 contract and 30 yuan/mt against Shanghai spot cargo. Mainstream offers in Ningbo were made against the 2507 contract. In the first period, Yongchang offered a delivered premium of 430 yuan/mt against the 2507 contract, Qilin quoted a delivered premium of 200 yuan/mt against the 2506 contract, Finland/Norway zinc ingot provided a delivered premium of 400 yuan/mt against the 2507 contract, and Jiulong offered 350 yuan/mt against the 2507 contract. In the second period, Yongchang lowered its premium to 280 yuan/mt for self pick-up, while other traders maintained their previous quotes. The Ningbo market had ample supply. Downstream players remained cautious due to expectations of further premium declines, leading traders to continuously reduce premium offers. However, companies still purchased based on orders, resulting in moderate spot transaction performance.

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