Ningbo Zinc: Downstream Restocking on Rigid Demand, Market Premium Basically Stable [SMM Midday Commentary]

Published: Sep 4, 2026 13:22

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[Ningbo zinc: Downstream buyers restock as needed, market premiums basically stable] The transaction price of mainstream 0# zinc in the Ningbo market was around 26,655-26,780 yuan/mt. Conventional brands in Ningbo were quoted at a discount of 55 yuan/mt against the 2610 contract, and at a premium of 45 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo area were made against the 2610 contract.

SMM, September 4:

The transaction price of mainstream brand 0# zinc in the Ningbo market was around 26,655-26,780 yuan/mt. Conventional brands in Ningbo were quoted at a discount of 55 yuan/mt against the 2610 contract and at a premium of 45 yuan/mt against Shanghai spot cargo. The mainstream quotes in the Ningbo region were against the 2610 contract. In the first session, Qilin and Anning were quoted at a discount of 60-50 yuan/mt against the 2610 contract, and Honglu-V (99.998) was quoted at a discount of 30 yuan/mt against the 2610 contract. In the second session, trader quotes remained unchanged from the previous session. In the morning, zinc prices on the futures market consolidated at highs. Downstream alloy plants showed limited inquiry and purchase willingness, and spot transactions were mostly for essential restocking. Overall trading was sluggish, with traders taking a laid-back approach to selling, and spot premiums held steady from the previous day.

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