SMM July 10 news:
The mainstream 0# zinc transaction price in Ningbo market ranged around 22,315-22,500 yuan/mt. Conventional brands in Ningbo quoted a premium of 75 yuan/mt against the 2508 contract and 20 yuan/mt against Shanghai spot cargo. Mainstream brands in Ningbo mainly quoted against the 2508 contract. In the first period, Yongchang quoted a delivered premium of 160 yuan/mt against the 2508 contract, Qilin quoted 130-140 yuan/mt, and Honglu-V zinc ingot quoted 100 yuan/mt. In the second period, traders' quotations remained unchanged from the previous period. Today, premium quotations in Ningbo market remained stable, but some traders expected lower premiums ahead and began preselling zinc ingots at lower prices. The futures market continued rising compared with yesterday. Downstream buyers had certain inventory from previous purchases, and showed almost no buying sentiment today, resulting in poor spot transactions.
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