SMM News on July 25:
This week, spot prices in Ningbo have shifted to a discount, with the weekly average price decreasing by 30 yuan/mt WoW. As of Friday this week, spot prices in Ningbo were at a discount of 20 yuan/mt against the 2508 contract and on par with the SHFE premium. The premium against the SHFE has narrowed during the week. Zinc futures prices surged significantly during the week, leading to a noticeable decline in purchasing sentiment among downstream enterprises. Spot purchases were mainly for immediate needs with subsequent pricing, resulting in poor overall transaction performance. Some traders continued to lower their premium quotes to facilitate sales, and it is expected that premiums will remain challenging to improve next week.
