Ningbo Zinc: Ample Market Supply, Premiums Remain Low [SMM Midday Review]

SMM News on February 18: The mainstream transaction price of 0# zinc in the Ningbo market was around 23,810-23,980 yuan/mt. Regular brands in Ningbo quoted a premium of 0 yuan/mt against the 2503 contract and were on par with the Shanghai spot price. Mainstream quotations in Ningbo were based on the 2503 contract. During the first time period, Qilin quoted on par with the 2503 contract, while Honglu-v quoted a premium of 10 yuan/mt against the 2503 contract. During the second time period, traders' quotations remained unchanged from the previous period. Qilin zinc ingots continued to arrive in the Ningbo market, ensuring ample supply. However, post-holiday, zinc alloy plants mainly purchased raw materials based on orders, and with the futures market continuing to rise in the morning, downstream inquiries for purchases were limited. Premiums in Ningbo operated at low levels, and overall spot transactions were primarily for enterprises' just-in-time purchasing needs.

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