Ningbo Zinc: Traders continue to sell at low prices, downstream buyers purchase based on rigid demand [SMM Midday Review]

SMM News on July 16:

The mainstream brand 0# zinc transaction price in the Ningbo market was around 21,995-22,060 yuan/mt. The regular brands in Ningbo were quoted at parity with the 2508 contract and at a discount of 30 yuan/mt against Shanghai spot cargo. The mainstream quotes in Ningbo were against the 2508 contract. In the first session, Qilin was quoted at a premium of 50 yuan/mt delivered against the 2508 contract, Honglu-v was quoted at a premium of 50 yuan/mt against the 2508 contract, and Huize zinc ingot was quoted at a premium of 90 yuan/mt against the 2508 contract. In the second session, traders' quotes remained unchanged from the previous session. Some traders completed their shipments yesterday, and there were fewer traders quoting prices in the market today. However, downstream buyers had built up a certain level of inventory through previous purchases, so buying sentiment was low today. With poor shipment performance, spot premiums continued to decline.

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