Ningbo Zinc: Traders Actively Selling, Premium Continues to Decline [SMM Midday Review]

SMM News on June 20:

The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,015-22,130 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 145 yuan/mt against the 2507 contract, and at a premium of 30 yuan/mt over the Shanghai spot cargo. Mainstream players in Ningbo were quoting against the 2507 contract. In the first time slot, Yongchang quoted a premium of 200 yuan/mt for delivery against the 2507 contract, Honglu-v quoted a premium of 150 yuan/mt against the 2507 contract, and Hazinc quoted a premium of 50 yuan/mt against the 2507 contract. In the second time slot, traders' quotes remained unchanged from the previous time slot. Today, the supply of zinc ingots in the market remained abundant, and the futures market maintained a fluctuating trend. However, some downstream players purchased at low prices yesterday, resulting in lower purchase willingness today. Spot transactions weakened somewhat, and spot premiums also declined.

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