Shanghai Zinc: Futures Prices Rise Significantly, Market Atmosphere Sluggish [SMM Midday Comment]

Published: Aug 7, 2026 11:48

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[Shanghai Zinc: Futures Prices Rose Significantly, Market Sentiment Sluggish] Today, mainstream transaction prices for #0 zinc were concentrated in the range of 25,845-26,030 yuan/mt, with Shuangyan mainly trading at 25,985-26,200 yuan/mt and #1 zinc at 25,775-25,960 yuan/mt. In the morning session, the market offered at a premium of 30-40 yuan/mt against the SMM average price, while no quotes were given against the futures...

SMM Aug 7 news:

Today, mainstream transaction prices for #0 zinc were concentrated at 25,845~26,030 yuan/mt, Shuangyan mainly transacted at 25,985~26,200 yuan/mt, and #1 zinc mainstream transactions were at 25,775~25,960 yuan/mt. In early trading, the market was quoted at premiums of 30~40 yuan/mt against the SMM average price, with no quotes against futures. In the second trading session, ordinary domestic brands were quoted at premiums of 0~10 yuan/mt against the 2609 contract, silver was quoted at a premium of 60 yuan/mt against the 2609 contract, and the high-priced brand Shuangyan was quoted at premiums of 140~180 yuan/mt against the 2609 contract. Today, the procurement sentiment for refined zinc in Shanghai was 1.88, and the shipment sentiment was 2.65. Today, SHFE zinc futures prices rose MoM to around 26,000 yuan/mt, downstream enterprises showed strong fear of high prices, remained on the sidelines with almost no inquiries, overall spot trades were sluggish, traders made casual quotes, and overall premiums changed little from yesterday.

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