Few Traders Making Shipments in Shanghai Market, Strong Sentiment to Hold Prices Firm [SMM Shanghai Spot Weekly Review]

Published: May 8, 2026 16:13

Save

[Few Traders Made Shipments in Shanghai Market, Strong Sentiment to Hold Prices Firm]: Spot premiums in Shanghai rose significantly this week, up 50 yuan/mt WoW in weekly average price. As of this Friday, ordinary domestic brands were quoted at premiums of 40-60 yuan/mt against the 2606 contract, while the premium brand Shuangyan was quoted at premiums of 100-160 yuan/mt against the 2606 contract.

SMM May 8: Spot premiums in Shanghai rose significantly this week, with the weekly average price up 50 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at premiums of 40-60 yuan/mt against the 2606 contract, while the premium brand Shuangyan was quoted at premiums of 100-160 yuan/mt against the 2606 contract. Tax invoice issues continued to disturb the spot market. Few traders in Shanghai made shipments during the week, and the overall sentiment to hold prices firm was strong. Spot premiums climbed steadily, but futures zinc prices also rose, causing downstream enterprises to stay on the sidelines due to high prices. Spot transactions during the week were mostly on-demand, and overall spot trades were sluggish. Spot premiums are expected to remain firm next week.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Geopolitical Disruptions Combined with Trade Disturbances Drive SHFE and LME Prices Higher [SMM Market Review - Weekly Price Commentary]

[Geopolitical Disruptions Combined with Trade Disturbances, SHFE and LME Both Rise] At the beginning of the week, LME zinc was closed due to the UK bank holiday. Subsequently, signs that the US-Iran ceasefire agreement remained in effect eased inflation concerns and upward pressure on interest rates. Combined with supply disruptions outside China, these factors jointly supported the rise of LME zinc. Meanwhile, the US dollar index continued to decline, and inventories outside China fell consecutively, further supporting LME zinc's upward move......

1 hour ago

No Significant Production Cuts at Smelters in May, Zinc Concentrate TCs Continue to Decline [SMM Zinc Concentrates Weekly Review]

[No Significant Production Cuts at Smelters in May; Zinc Concentrate TCs Continued to Decline]: Based on weekly data, the SMM Zn50 domestic weekly average TC fell 150 yuan/mt Zn WoW to 700 yuan/mt Zn, and the SMM imported zinc concentrate index dropped $6.5/dmt WoW to -$45.75/dmt.

1 hour ago

Zinc Oxide Production Relatively Stable but Enterprise Profit Margins Narrow [SMM Zinc Oxide Weekly Review]

[Zinc Oxide Operating Rates Relatively Stable but Enterprise Profit Margins Narrow] Currently, the overall demand in the zinc oxide industry was relatively stable, but market price involution was prominent. Meanwhile, some enterprises saw rising production costs due to production processes and increased raw material costs, while product selling prices were suppressed by market competition, leaving limited upside room...

1 hour ago