SMM November 7 News:
Spot premiums in Ningbo rose this week, up 15 yuan/mt WoW from the weekly average price. As of Friday, spot prices against the 2512 contract were at a premium of 20 yuan/mt in Ningbo, while the premium against Shanghai stood at 70 yuan/mt, with the premium against Shanghai widening slightly during the week. Although some zinc ingots that were delayed due to transportation delays have arrived at the port gradually, most of these cargoes had been pre-sold by traders, so the actual supplement to market availability was limited. In addition, some zinc ingots for long-term contracts also arrived during the week, but overall, spot cargo remained relatively scarce. Traders continued to raise spot premiums, while downstream enterprises purchased as needed, leading to relatively quick spot transactions during the week. With more zinc ingots expected to arrive next week, the increase in Ningbo premiums is projected to be limited.
