SMM October 24 News:
Spot premiums in Ningbo rose this week, up 40 yuan/mt WoW. As of Friday, spot prices against the 2511 contract were at a premium of 35 yuan/mt, while the premium against Shanghai prices stood at 90 yuan/mt, with the premium against Shanghai continuing to widen during the week. Due to typhoon impacts, some zinc ingot arrivals were delayed, leading to limited arrivals in the Ningbo market this week. Downstream enterprises actively inquired and made purchases, gradually digesting spot zinc ingot inventories. Tight supply persisted throughout the week, prompting some downstream buyers to purchase zinc ingots from the Shanghai region. Spot premiums increased significantly during the week. With zinc ingot arrivals expected to gradually increase next week, Ningbo spot premiums may pull back.
