SMM July 3 news:
The mainstream 0# zinc transaction price in Ningbo market was around 22,345-22,480 yuan/mt. Conventional brands in Ningbo quoted a premium of 100 yuan/mt against the 2508 contract and a discount of 10 yuan/mt against Shanghai spot cargo. Mainstream brands in Ningbo primarily quoted against the 2508 contract. In the first session, Hualian offered a delivered premium of 160 yuan/mt against the 2508 contract, Silver quoted a premium of 140 yuan/mt, Anning zinc ingot quoted a premium of 60 yuan/mt, and Qilin quoted a premium of 200 yuan/mt. In the second session, traders' quotations remained unchanged from the previous session. Ningbo market traders still had ample cargo supply, and their indifferent quoting sentiment showed some rebound. However, downstream orders were weak, as previous low-price purchases still left certain inventory. Additionally, high futures prices dampened companies' buying sentiment. Today's trading performance in Ningbo was moderate.
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