Ningbo zinc: Downstream enterprises remain on the sidelines, spot market sluggish [SMM midday commentary]

Published: Sep 1, 2026 11:49

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[Ningbo zinc: Downstream enterprises remain on the sidelines, spot market sluggish] The mainstream brand 0# zinc transaction price in the Ningbo market was around 26,900-27,100 yuan/mt. Conventional brands in Ningbo were quoted at a discount of 55 yuan/mt against the 2610 contract, at a premium of 50 yuan/mt against Shanghai spot cargo, and mainstream quotes in the Ningbo area were against the 2609 contract.

SMM, September 1:

The transaction price of mainstream brand 0# zinc in the Ningbo market was around 26,900–27,100 yuan/mt. Conventional brands in Ningbo were quoted at a discount of 55 yuan/mt against the 2610 contract and at a premium of 50 yuan/mt against Shanghai spot cargoes. Mainstream quotes in the Ningbo area were mainly based on the 2609 contract. In the first session, Qilin was quoted at a discount of 60–0 yuan/mt against the 2610 contract, and Honglu-V (99.998) was quoted at a discount of 20 yuan/mt against the 2610 contract. In the second session, trader quotes remained unchanged from the previous session. In early trading, zinc prices rose significantly to around 27,000 yuan/mt. Downstream enterprises continued to wait and see, with almost no inquiries today. Traders were also not active in selling. Spot zinc ingot quotes were offered in a laid-back manner, and the overall spot market atmosphere was relatively sluggish.

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