Ningbo Zinc: Arrival of Qilin zinc ingot, premium remains stable [SMM Midday Review]

SMM July 1 News:

The mainstream #0 zinc transaction price in Ningbo market ranged around 22,280-22,470 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 offers in Ningbo were made against the 2507 contract. In the first session, Qilin zinc ingot delivery offers showed a premium of 100 yuan/mt against the 2507 contract, while Anning zinc ingot traded at a discount of 20 yuan/mt to a premium of 20 yuan/mt against the same contract. Huize zinc ingot commanded premiums of 150-160 yuan/mt. During the second session, Huize premiums narrowed to 130-140 yuan/mt, while other traders maintained their previous quotes. With Qilin zinc ingots arriving in Ningbo market, today's premium quotes remained basically stable. The futures market declined noticeably compared to yesterday, prompting some companies to purchase at lower prices. Overall spot transactions showed moderate performance.

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