SMM June 30:
The mainstream brand 0# zinc transaction price in Ningbo market was around 22,480-22,570 yuan/mt. Conventional brands in Ningbo quoted a premium of 55 yuan/mt against the 2507 contract and 20 yuan/mt against Shanghai spot cargo. Mainstream brands in Ningbo mainly quoted against the 2507 contract. In the first period, Qilin quoted a delivered premium of 160 yuan/mt against the 2508 contract, Anning zinc ingot quoted a premium of 55 yuan/mt against the 2507 contract, and Huize quoted a premium of 240 yuan/mt against the 2507 contract. In the second period, traders' quotations remained unchanged from the previous period. Few traders delivered goods in Ningbo market today, with spot premiums continuing to decline. Although the futures market weakened, downstream buyers maintained wait-and-see attitudes and only purchased for rigid demand, resulting in moderate spot transactions.
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