Ningbo Zinc: Increased Shipments in Ningbo, Downstream Restocked Only as Needed [SMM Midday Review]

The mainstream brand 0# zinc transaction price in the Ningbo market was around 24,325-24,510 yuan/mt. The normal brand in Ningbo quoted a discount of 65 yuan/mt against the 2408 contract and a premium of 40 yuan/mt over the Shanghai spot. The mainstream prices in Ningbo quoted against the 2408 contract. Initially, Yongchang quoted a discount of 60-70 yuan/mt against the 2408 contract, and Qilin quoted a discount of 30 yuan/mt against the 2408 contract. Later, traders' quotes were flat compared to the previous period. Long-term orders continued to arrive, and the number of traders shipping in Ningbo increased. Spot discounts stabilized, the market prices remained at a high level, downstream sentiment remained cautious, and spot transactions were moderate.