Ningbo Zinc: Abundant supply in the market, premium continues to weaken [SMM Midday Review]

SMM June 10 News:

In the Ningbo market, the transaction price of mainstream brand 0# zinc was around 22,115-22,180 yuan/mt. The mainstream brands in Ningbo offered a premium of 295 yuan/mt against the 2507 contract, and were on par with Shanghai spot cargo. The mainstream brands in Ningbo quoted prices against the 2507 contract. In the first time slot, Yongchang offered a premium of 300 yuan/mt against the 2507 contract, Honglu-v offered a premium of 360 yuan/mt against the 2507 contract, Norwegian zinc ingots offered a premium of 300 yuan/mt against the 2507 contract, and Jiulong offered a delivered price with a premium of 300 yuan/mt against the 2507 contract. In the second time slot, traders' quotes remained unchanged from the previous time slot. Imported zinc ingots continued to flow into Ningbo, and Jiulong zinc ingots also began to arrive. The overall supply in Ningbo was ample, and traders continued to lower their premium quotes to facilitate sales. Downstream enterprises purchased at lower prices to restock, and spot cargo transactions improved today.

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