Shanghai Zinc: Futures Zinc Prices Consolidate, Spot Market Shows Mediocre Performance [SMM Midday Review]

Published: Sep 22, 2026 11:49 (GMT+8)

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[Shanghai Zinc: Futures Zinc Prices Consolidate, Spot Market Shows Mediocre Performance] Today, mainstream transaction prices for #0 zinc were concentrated at 26,675-26,800 yuan/mt, with no transactions for Shuangyan. Mainstream transaction prices for #1 zinc were at 26,605-26,730 yuan/mt. In early trading, the market quoted a premium of 70-90 yuan/mt against the SMM average price, with no quotes against futures yet...

SMM, September 22:

Today, mainstream transaction prices for #0 zinc were concentrated at 26,675~26,800 yuan/mt. Shuangyan saw no transactions, while mainstream transaction prices for #1 zinc were 26,605~26,730 yuan/mt. In early trading, market quotations against the SMM average price were at premiums of 70~90 yuan/mt, with no quotes against futures. In the second trading session, ordinary domestic brands were quoted at premiums of 60~70 yuan/mt against the 2610 contract, silver was quoted at a premium of 70 yuan/mt against the 2610 contract, and the high-priced Shuangyan brand had no quotes against the 2610 contract. Today, purchasing sentiment for refined zinc in the Shanghai region was 2.08, while shipment sentiment was 2.60. In the morning session, zinc futures consolidated at highs, and downstream purchasing enthusiasm remained generally subdued. Overall transactions showed no improvement today, with traders' spot quotations basically flat compared with yesterday's levels, and trading was mostly conducted among traders.

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