Traders adopted a casual approach to sales, with trading activity showing a mediocre performance. [SMM Ningbo Spot Cargo Weekly Review]

SMM September 12:

Ningbo spot discounts narrowed slightly this week, up 5 yuan/mt WoW. As of Friday, Ningbo spot prices against the 2510 contract were at a discount of 25 yuan/mt, and against SHFE at a premium of 40 yuan/mt. The premium against SHFE maintained a fluctuating trend during the week. With long-term contract zinc ingot arrivals supplementing the market over the weekend, many traders were selling at the beginning of the week, and spot offers were basically stable. However, as zinc ingot inventories were gradually consumed, traders reduced their spot offers, and spot premiums saw a slight increase. Nevertheless, futures maintained a fluctuating trend during the week, and downstream users mostly purchased as needed. Overall, spot trades showed mediocre performance. With no improvement in downstream orders, premiums are expected to maintain a fluctuating trend next week.