Ningbo Zinc: Downstream orders weaken, trading performance is mediocre [SMM Midday Review]

SMM reported on July 14:

The transaction price of mainstream brand 0# zinc in the Ningbo market ranged from approximately 22,180 to 22,280 yuan/mt. The regular brands in Ningbo were quoted at a premium of 50 yuan/mt against the 2508 contract and at a premium of 20 yuan/mt against spot Shanghai. The mainstream in Ningbo region quoted prices against the 2508 contract. In the first time slot, Qilin was quoted at a premium of 50 yuan/mt against the 2508 contract, while Huize zinc ingot was quoted at a premium of 100 yuan/mt against the 2508 contract. In the second time slot, traders' quotes remained unchanged from the previous time slot. Traders in the Ningbo market continued to actively sell goods, with spot premiums remaining low. However, downstream alloy plants had weak orders, with some plants currently only operating at night. The demand for raw materials continued to decline, and under the need for just-in-time restocking, spot transactions showed mediocre performance.

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