Ningbo Zinc: Abundant Market Supply, Premium Remains Stable [SMM Midday Review]

SMM July 8 News:

The mainstream 0# zinc transaction price in Ningbo market was around 21,965-22,165 yuan/mt. Conventional brands in Ningbo quoted a premium of 90 yuan/mt against the 2508 contract, at parity with Shanghai spot prices. Mainstream brands in Ningbo primarily quoted against the 2508 contract. In the first session, Yongchang quoted a premium of 100 yuan/mt against the 2508 contract, Qilin offered a delivered premium of 140 yuan/mt against the 2508 contract, and Honglu-V zinc ingot quoted a premium of 100 yuan/mt against the 2508 contract. In the second session, traders maintained the same quotes as the previous session. Zinc ingot supply remained ample in the Ningbo market, with traders actively selling. Although the futures market declined in the morning, downstream enterprises continued purchasing based on demand, resulting in limited overall improvement in spot transactions.

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