#0 zinc in Ningbo was quoted with premiums of 140-180 yuan/mt over SHFE 2305 zinc contract last week. The premiums stood at 70-80 yuan/mt against Shanghai prices. Spot trades were hectic on the back of the approaching Labour Day holidays and downstream buying on the dip.
Spot premiums went up last week. As of last Thursday, the premiums stood at 20-50 yuan/mt for regular brands over SHFE 2305 contract, and 70-110 yuan/mt for high-priced Zijin zinc.
TCs in Yunnan and Inner Mongolia dipped last week. The supply of zinc ore in Yunnan is currently relatively tight, mainly due to the lack of imports of zinc ore from in Southeast Asia and its long distance from the port. At present, the mainstream traded TCs in Yunnan stand at 4,700 yuan/mt with metal content.