Ningbo Zinc: Downstream Users Stay Cautious at High Prices, Market Trading Sluggish [SMM Midday Commentary]

Published: Sep 7, 2026 11:39

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[Ningbo Zinc: Downstream Users Stay Cautious at High Prices, Market Trading Sluggish] The transaction price of mainstream brand 0# zinc in the Ningbo market was around 26,850-27,175 yuan/mt. Conventional brands in Ningbo were quoted at a discount of 60 yuan/mt against the 2610 contract and a premium of 40 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo area were made against the 2610 contract.

SMM News on September 7:

In the Ningbo market, transaction prices for mainstream brands of 0# zinc were around 26,850-27,175 yuan/mt. Regular brands in Ningbo were quoted at a discount of 60 yuan/mt against the 2610 contract and a premium of 40 yuan/mt against Shanghai spot cargo, with mainstream quotes in Ningbo mainly referenced against the 2610 contract. In the first time window, Anning was quoted at a discount of 70-50 yuan/mt against the 2610 contract, and Honglu -v (99.998) at a discount of 30 yuan/mt against the 2610 contract; in the second time window, traders’ quotes were unchanged from the previous window. In the morning session, zinc futures prices rose again to above 27,000 yuan/mt. Downstream enterprises, deterred by high prices, made almost no inquiries or purchases. Coupled with the lack of a trend-like improvement in end-user orders, wait-and-see sentiment was strong, and overall spot trades were sluggish.

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