Ningbo Zinc: Zinc Prices Have Not Reached the Downstream Psychological Price Level; Many Downstream Enterprises Continue to Expect Further Declines [SMM Midday Commentary]

Published: Aug 18, 2026 11:28

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[Ningbo Zinc: Zinc Prices Failed to Reach Downstream Psychological Price Levels; Most Downstream Enterprises Continued to Expect Further Declines] In the Ningbo market, transaction prices for mainstream brands of 0# zinc were around 25,575-25,745 yuan/mt. Conventional Ningbo brands were quoted at a premium of 0 yuan/mt against the 2609 contract and a premium of 50 yuan/mt against Shanghai spot cargo, and mainstream offers in the Ningbo area were quoted against the 2609 contract...

SMM News on August 18:

In the Ningbo market, transaction prices for mainstream 0# zinc brands were around 25,575-25,745 yuan/mt. Regular Ningbo brands were quoted at a premium of 0 yuan/mt against the 2609 contract and a premium of 50 yuan/mt against Shanghai spot cargo. Mainstream quotes in Ningbo were made against the 2609 contract. In the first time period, Yongchang, Anning, and Qilin were quoted at a premium of 0-10 yuan/mt against the 2609 contract, while Honglu -v (99.998) was quoted at a premium of 30 yuan/mt against the 2609 contract; in the second time period, traders’ quotes were unchanged from the previous time period. SHFE zinc futures prices edged down in the morning but did not reach downstream enterprises’ psychological price level. Most downstream enterprises continued to expect prices to fall, and overall transactions today showed no obvious improvement. Traders were relaxed in offering shipments, and spot premiums remained stable.

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