Ningbo Zinc: Impact of Low Import Prices, Premium Continues to Decline [SMM Midday Review]

SMM June 17 report:

In the Ningbo market, the transaction price of mainstream brand 0# zinc ingot was around 21,980-22,105 yuan/mt. The mainstream brands in Ningbo offered a premium of 200 yuan/mt against the 2507 contract, and a premium of 20 yuan/mt against the spot price in Shanghai. The mainstream market in Ningbo quoted prices against the 2507 contract. In the first trading session, Qilin offered a premium of 200-220 yuan/mt against the 2507 contract, Huize offered a premium of 280 yuan/mt against the 2507 contract, and Norway/Finland offered a delivered premium of 200 yuan/mt against the 2507 contract. In the second trading session, traders' quotes remained unchanged from the previous session. Domestic zinc ingots arrived normally in Ningbo during the week, while imported zinc ingots continued to impact the market with low prices. The overall supply was abundant, and downstream enterprises made purchases as needed. Today, the spot premium in Ningbo continued to decline.

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