Ningbo Zinc: Market Trader Quotations Basically Stable, Downstream Enterprises Mainly Wait-and-See [SMM Midday Comment]

Published: Jul 22, 2026 11:54

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[Ningbo Zinc: Market Traders' Quotes Basically Stable, Downstream Enterprises Mainly Taking a Wait-and-See Stance] The transaction prices of mainstream #0 zinc brands in the Ningbo market were around 24,520-24,620 yuan/mt. Quotes for conventional Ningbo brands stood at a premium of 35 yuan/mt against the 2608 contract and at a premium of 20 yuan/mt against Shanghai spot cargo. The mainstream quotes in the Ningbo area were mostly based on the 2608 contract...

SMM, July 22:

The Ningbo market saw mainstream brand #0 zinc traded at around 24,520-24,620 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 35 yuan/mt against the 2608 contract and a premium of 20 yuan/mt against spot cargoes in Shanghai, with the Ningbo area primarily quoting against the 2608 contract. In the first session, Qilin was quoted at a premium of 40 yuan/mt against the 2608 contract, Anning at premiums of 30-40 yuan/mt, and Honglu-V (99.998) at a premium of 100 yuan/mt. In the second session, trader quotes remained flat compared to the previous session. Trader quotes were largely firm today, with spot premiums holding steady from yesterday. However, as zinc futures prices rebounded from a low in the morning, a wait-and-see sentiment returned among downstream enterprises. Inquiries and purchases were limited today, and spot transactions were sluggish.

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