Ningbo Zinc: Fewer Quoting Traders, Spot Premiums Decline [SMM Midday Review]

SMM January 16 News: The transaction prices of mainstream 0# zinc brands in the Ningbo market were around 24,125-24,390 yuan/mt. Regular brands in Ningbo quoted a premium of 440 yuan/mt against the 2502 contract and a premium of 50 yuan/mt against Shanghai spot prices, with mainstream quotes in Ningbo based on the 2502 contract. During the first time period, Qilin quoted a delivered premium of 500 yuan/mt against the 2502 contract; during the second time period, traders' quotes remained unchanged from the previous period. Yesterday, downstream enterprises priced in more actively, and some traders completed their sales. Today, market quotations were limited, and traders continued to lower spot premiums to facilitate sales. Downstream enterprises made purchases to meet rigid demand and replenish inventories, with overall transactions showing average performance.

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