Ningbo Zinc: Previously Presold Zinc Ingots Arrive, Spot Transactions Remain Moderate [SMM Midday Review]

SMM reported on January 8: The transaction price of mainstream 0# zinc brands in the Ningbo market was around 24,850-25,040 yuan/mt. Conventional brands in Ningbo quoted a premium of 480 yuan/mt against the 2501 contract and a premium of 110 yuan/mt against Shanghai spot. Mainstream quotations in Ningbo were based on the 2501 contract. During the first time period, Baohui quoted a delivered premium of 750 yuan/mt against the 2502 contract, Honglu-v quoted a premium of 670 yuan/mt against the 2501 contract, and Huize quoted a premium of 650 yuan/mt against the 2501 contract. During the second time period, traders' quotations remained unchanged from the previous period. The futures market continued to operate at a low level today. With limited supply, suppliers further raised spot premiums for Ningbo, but the previously pre-sold Qilin zinc ingots arrived today, continuously replenishing downstream raw material inventories. Enterprises showed low purchase willingness, and overall market transactions were average today.

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