Shanghai Zinc: Futures zinc prices rise significantly, market trading atmosphere sluggish [SMM midday review]

Published: Sep 1, 2026 11:50

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[Shanghai Zinc: Futures Zinc Prices Rise Significantly, Market Trading Atmosphere Sluggish] Today, mainstream transaction prices for #0 zinc were concentrated at 26,880-27,100 yuan/mt, with no transactions for Shuangyan, and mainstream transactions for #1 zinc were at 26,810-27,030 yuan/mt. In early trading, market quotes against the SMM average price were at a premium of 40-60 yuan/mt, with no quotes against futures...

SMM, September 1:

Today, mainstream transaction prices for #0 zinc were concentrated at 26,880~27,100 yuan/mt, with no transactions for Shuangyan. #1 zinc was mainly traded at 26,810~27,030 yuan/mt. In the morning session, market quotes against the SMM average price were at premiums of 40~60 yuan/mt, with no quotes against futures. In the second trading session, ordinary domestic brands were quoted at discounts of 70~60 yuan/mt against the 2610 contract, silver was quoted at a discount of 0 yuan/mt against the 2610 contract, and the high-priced Shuangyan brand had no quotes against the 2609 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 1.68, while the shipment sentiment was 2.61. In the morning, SHFE zinc futures prices rose significantly MoM to around 27,000 yuan/mt, intensifying downstream enterprises' fear of high prices. There was almost no inquiry or purchasing interest in the market today, and traders generally faced sluggish shipments. Spot premiums were slightly lowered, and overall spot trading sentiment remained subdued.

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