Traders Raise Spot Cargo Quotations, Market Premiums Rise WoW [SMM Ningbo Spot Weekly Review]

Published: Jul 24, 2026 15:37

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[Traders raise spot quotes, market premiums up WoW]: This week, Ningbo spot premiums rose first then fell, with the overall average premium rising by 35 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2608 contract were quoted at a premium of 25 yuan/mt, and against Shanghai at a premium of 20 yuan/mt. During the week, the premium against Shanghai maintained a fluctuating trend..

SMM July 24 News:

Ningbo spot premiums rose first and then fell this week, with the overall average premium up 35 yuan/mt WoW. As of Friday this week, Ningbo spot prices against the 2608 contract were quoted at a premium of 25 yuan/mt, and the premium against Shanghai was at 20 yuan/mt. During the week, the premium against Shanghai maintained a fluctuating trend. At the start of the week, zinc futures were trading at low levels. Some downstream enterprises locked in prices and purchased cargoes, prompting traders to raise their premium offers. However, zinc prices subsequently rebounded from lows, and downstream enterprises, wary of high prices, mostly stayed on the sidelines. Coupled with overall weak demand for zinc ingots, spot transactions were sluggish. Traders were in no hurry to sell, and market premiums pulled back slightly. Overall premiums are expected to consolidate next week.

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