Ningbo Zinc: Futures Market Rises Slightly, Enterprises Make Just-in-Time Procurement [SMM Midday Review]

SMM, June 18:

In the Ningbo market, the transaction price of mainstream brand 0# zinc ingot was around 22,100-22,330 yuan/mt. The mainstream brands in Ningbo offered a premium of 195 yuan/mt against the 2507 contract and a premium of 40 yuan/mt against the Shanghai spot cargo. The mainstream market in Ningbo quoted prices against the 2507 contract. In the first session, Qilin offered a premium of 220 yuan/mt against the 2507 contract, Hualian offered a delivered premium of 260 yuan/mt against the 2507 contract, and Norway/Finland offered a delivered premium of 200 yuan/mt against the 2507 contract. In the second session, Qilin's premium was lowered to 160 yuan/mt, while other traders maintained their quotes from the previous session. Qilin zinc ingots arrived in the Ningbo market again. Today, the futures market rebounded slightly, with downstream enterprises showing low purchase willingness. Overall transactions remained on a need-basis, and some traders continued to lower their premium quotes amid poor spot consumption.

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