Ningbo Zinc: Some traders dump goods at low prices, Ningbo premium continues to decline [SMM Midday Review]

SMM June 13 News:

In the Ningbo market, the transaction price of mainstream brand 0# zinc was around 22,205-22,340 yuan/mt. The mainstream brands in Ningbo offered a premium of 250 yuan/mt against the 2507 contract and a premium of 10 yuan/mt over the spot price in Shanghai. The mainstream market in Ningbo quoted prices against the 2507 contract. In the first session, Yongchang offered a premium of 300 yuan/mt against the 2507 contract, while Qilin offered a premium of 250-300 yuan/mt against the 2507 contract. In the second session, Yongchang lowered its offer to 280 yuan/mt, and Qilin lowered its offer to 250 yuan/mt. Recently, Qilin has received a large number of shipments. To expedite sales, some traders have reduced their premium quotes. Spot premiums in Ningbo continue to decline, and the futures market maintains a fluctuating trend. Although some downstream enterprises restocked for the weekend, overall demand remains on a need-basis, and transaction performance has been average.

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