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

Published: May 8, 2026 16:13

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[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.

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