Zinc Prices Hit a New High for the Year; Spot Premiums in the Doldrums [SMM Ningbo Spot Weekly Review]

Published: Sep 11, 2026 15:40

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[Zinc Prices Hit a New High for the Year; Spot Premiums in the Doldrums]: This week, spot premiums in Ningbo consolidated at lows, with the overall average price down 10 yuan/mt WoW. As of this Friday, spot prices in Ningbo against the 2610 contract were quoted at a discount of 60 yuan/mt, and at a premium of 30 yuan/mt against the SHFE price.

SMM, September 11:

This week, spot premiums in Ningbo consolidated at lows, with the overall average price down 10 yuan/mt WoW. As of this Friday, spot prices against the SHFE 2610 contract were quoted at a discount of 60 yuan/mt, and at a premium of 30 yuan/mt against the Shanghai premium. During the week, zinc prices on the futures market hit a new high for the year, and downstream enterprises showed strong fear of high prices, with almost no purchase willingness throughout the week. Traders faced sluggish shipments and largely quoted prices passively. However, zinc prices fell significantly toward the end of the week, prompting some downstream buyers to take the opportunity to purchase at fixed prices. Overall, spot premiums declined first and then rose during the week. With no clear improvement in consumption, premiums are expected to see limited upside next week.

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