Ningbo Zinc: Downstream Purchases and Restocking, Transaction Performance is Moderate [SMM Midday Review]

SMM News on June 19:

In the Ningbo market, the transaction price of mainstream brand 0# zinc ranged from approximately 21,990 to 22,155 yuan/mt. Regular brands in Ningbo were quoted at a premium of 160 yuan/mt against the 2507 contract, and at a premium of 20 yuan/mt against Shanghai spot cargo. Mainstream players in the Ningbo region were quoting against the 2507 contract. During the first session, Qilin quoted at a premium of 160 yuan/mt against the 2507 contract, Huize quoted at a premium of 220 yuan/mt against the 2507 contract, and Hazinc quoted at a premium of 80 yuan/mt against the 2507 contract. During the second session, traders' quotes remained unchanged from the previous session. Today, the futures market declined slightly, with some downstream players purchasing and restocking at lower prices. Spot transaction performance was moderate, but the overall market supply was ample. Hazinc also arrived in the Ningbo market, and premiums continued to decline today.

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