Ningbo Zinc: Qilin arrives in Ningbo, downstream makes just-in-time procurement [SMM Midday Review]

SMM June 12 News:

In the Ningbo market, the transaction prices of mainstream brand 0# zinc were around 22,265-22,330 yuan/mt. The regular brands in Ningbo were quoted at a premium of 300 yuan/mt against the 2507 contract, and at a premium of 40 yuan/mt against Shanghai spot cargo. The mainstream in Ningbo region quoted prices against the 2507 contract. In the first time slot, Yongchang quoted a premium of 300 yuan/mt against the 2507 contract, Qilin quoted a premium of 300 yuan/mt against the 2507 contract, and Honglu-v quoted a premium of 340 yuan/mt against the 2507 contract. In the second time slot, Yongchang lowered its quote to 250-300 yuan/mt, while the quotes of other traders remained unchanged from the previous time slot. Today, Qilin zinc ingots arrived in the Ningbo market. Traders in the morning market maintained stable quotes, but the market continued to expect a decline in premiums. Downstream enterprises maintained their rigid demand, and with poor sales, some traders lowered their own premium quotes. Overall, transaction performance was average.

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