Zinc futures prices rose significantly, while spot premiums remained in the doldrums [SMM Ningbo Spot Weekly Review]

Published: Sep 4, 2026 14:31

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[Zinc futures prices rise notably, spot premiums in the doldrums]: This week, Ningbo spot premiums consolidated, with the average price up 10 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2610 contract were quoted at a discount of 55 yuan/mt, and at a premium of 45 yuan/mt against the Shanghai premium.

SMM, September 4:

This week, Ningbo spot premiums consolidated, with the overall average price up 10 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2610 contract were quoted at a discount of 55 yuan/mt, and at a premium of 45 yuan/mt against Shanghai. During the week, SHFE zinc futures prices rose significantly to around 27,000 yuan/mt, and downstream enterprises showed strong fear of high prices. In the first half of the week, there were almost no inquiries or purchases, and overall market transactions were sluggish. In the second half of the week, as zinc prices pulled back somewhat, although they still had not reached the general psychological price levels of downstream enterprises, some restocking driven by rigid demand emerged. Overall spot premiums remained in the doldrums throughout the week. Ningbo spot premiums are expected to maintain a fluctuating trend next week.

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