SMM Review and Forecast of Spot Zinc Market in Ningbo

#0 zinc in Ningbo was quoted with premiums of 150-170 yuan/mt over SHFE 2307 zinc contract last week, and with discounts of 10-40 yuan/mt against Shanghai prices. Spot quotes against SHFE zinc prices continued to fall while those against Shanghai prices were stable.

Downstream enterprises restocked zinc ingot as needed against sluggish new orders during the off-season. The influx of Iranian zinc continued to impact the domestic zinc market. Shipments of Tiefeng and Yongchang brands were poor. Sellers lowered prices and spot premiums continued to fall. Premiums are expected to remain weak this week.