Ningbo Zinc: Downstream Demand Remains Steady, Premiums Hold Steady [SMM Midday Review]

SMM, June 11:

In the Ningbo market, the transaction price of mainstream brand 0# zinc ingot was around 22,225-22,375 yuan/mt. The mainstream brands in Ningbo offered a premium of 295 yuan/mt against the 2507 contract, and a premium of 20 yuan/mt against Shanghai spot cargo. The mainstream market in Ningbo quoted prices against the 2507 contract. In the first session, Yongchang offered a premium of 300-340 yuan/mt against the 2507 contract, Qilin offered a premium of 300-320 yuan/mt against the 2507 contract, Honglu-v offered a premium of 380 yuan/mt against the 2507 contract, Norwegian zinc ingot was offered at a delivered premium of 330 yuan/mt against the 2507 contract, and Hazinc offered a price of 250 yuan/mt against the 2507 contract. In the second session, traders' quotes remained unchanged from the previous session. Recently, Hazinc arrived in the Ningbo market, but the premium quotes remained at a relatively high level. The futures market saw a slight rebound, and downstream enterprises maintained their purchases based on immediate needs. Overall spot transaction performance was average, with premiums remaining stable.

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