Ningbo Zinc: Kylin Zinc Ingot Arrives, Spot Premiums Continue to Decline [SMM Midday Review]

SMM June 24 News:

In the Ningbo market, the transaction prices of mainstream brand 0# zinc were around 22,160-22,235 yuan/mt. The mainstream brands in Ningbo offered a premium of 95 yuan/mt against the 2507 contract, and were on par with the spot cargo in Shanghai. The mainstream market in Ningbo quoted prices against the 2507 contract. In the first time slot, Qilin offered a premium of 100-120 yuan/mt against the 2507 contract, Jiulong offered a premium of 100 yuan/mt against the 2507 contract, and Huize offered a premium of 250 yuan/mt against the 2507 contract. In the second time slot, traders' quotes remained unchanged from the previous time slot. Qilin zinc ingots arrived at the Ningbo port yesterday, increasing the supply of zinc ingots in the market. Additionally, the futures market rose significantly today, resulting in poor overall transaction volumes as downstream buyers purchased only to meet immediate needs. Traders continued to lower their premium quotes to facilitate sales.

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