Ningbo Zinc: Premium Continues to Decline, Trading Performance Moderate [SMM Midday Review]

SMM July 15 News:

The mainstream 0# zinc transaction price in the Ningbo market ranged around 22,100-22,175 yuan/mt. Conventional brands in Ningbo quoted a premium of 20 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, Qilin quoted a premium of 20 yuan/mt against the 2508 contract, Yongchang quoted a premium of 20 yuan/mt against the 2508 contract, and Huize zinc ingot quoted a premium of 80-100 yuan/mt against the 2508 contract. In the second session, traders' quotations remained unchanged from the previous session. The Ningbo market saw many traders unloading cargo, with some selling at lower prices, leading to further declines in spot premiums. The futures market remained in the doldrums, while some downstream users made purchases at lower levels, resulting in moderate overall spot transaction performance.

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