Ningbo Zinc: Arrival of Anning zinc ingot, market premium continues to decline [SMM Midday Review]

SMM June 27 News:

In the Ningbo market, the transaction price of mainstream brand 0# zinc ingot was around 22,560-22,710 yuan/mt. The mainstream brands in Ningbo offered a premium of 80 yuan/mt against the 2507 contract and a premium of 30 yuan/mt against Shanghai spot cargo. In Ningbo, the mainstream brands quoted prices against the 2507 contract. In the first session, Yongchang offered a premium of 80 yuan/mt against the 2507 contract, Qilin offered a premium of 70 yuan/mt against the 2507 contract, and Anning offered a premium of 100 yuan/mt against the 2507 contract. In the second session, Anning's zinc ingot premium was lowered to 65 yuan/mt, while other traders' quotes remained unchanged from the previous session. Anning's zinc ingot arrived in Ningbo, supplementing the market's zinc ingot supply. The futures market rose significantly MoM. Traders continued to lower their premium quotes to facilitate sales, but downstream buyers were cautious about purchasing at high prices, resulting in a mediocre overall transaction performance.

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