Ningbo Zinc: Some traders lowered spot zinc quotations, and overall trading was relatively sluggish [SMM Midday Review]

Ningbo Zinc: Some traders lowered spot zinc quotations, and overall trading was relatively sluggish [SMM Midday Review] [Ningbo Zinc: Some traders lowered spot cargo quotes, overall transactions were relatively sluggish] In the Ningbo market, traded prices for mainstream 0# zinc were at around 24,720 to 24,905 yuan/mt, conventional brands were quoted at a premium of 25 yuan/mt against the 2608 contract and a premium of 20 yuan/mt against Shanghai spot quotes, and mainstream brands in Ningbo were quoted against the 2608 contract... SMM, July 23: The mainstream brand 0# zinc in the Ningbo market saw transaction prices around 24,720-24,905 yuan/mt. Regular brands in Ningbo were quoted at a premium of 25 yuan/mt against the 2608 contract and a premium of 20 yuan/mt against spot zinc in Shanghai. Ningbo area quotes primarily referenced the 2608 contract. In the first session, Yongchang was quoted at a premium of 20-30 yuan/mt against the 2608 contract, Qilin at a premium of 30 yuan/mt against the 2608 contract, and Honglu-V (99.998) at a premium of 110 yuan/mt against the 2608 contract. In the second session, trader quotes remained flat from the previous session. SHFE zinc futures prices climbed again in the morning, and some traders in the market lowered their spot quotes to facilitate sales. However, downstream plants in Ningbo had poor orders and mostly stood on the sidelines today due to high price hesitancy, resulting in overall sluggish spot trades. Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations. Images in this article contain AI-translated captions for reference only. Register to Continue Reading Gain access to the latest insights in metals and new energy Already have an account?Sign in here