Ningbo zinc: Downstream stockpiles as needed, spot premiums edge up [SMM midday commentary]

Published: Sep 23, 2026 11:48 (GMT+8)

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[Ningbo zinc: Downstream stockpiling on demand, spot premiums edge up] The transaction price of mainstream brand 0# zinc in the Ningbo market was around 26,560-26,760 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 10 yuan/mt against the 2610 contract and a premium of 20 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo area were primarily against the 2610 contract.

SMM, September 23:

The transaction price of mainstream brand 0# zinc in the Ningbo market was around 26,560-26,760 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 10 yuan/mt against the 2610 contract and a premium of 20 yuan/mt against Shanghai spot cargo. The Ningbo region mainly quoted against the 2610 contract. In the first session, Anning was quoted at a premium of 0-20 yuan/mt against the 2610 contract, Qilin at a premium of 20 yuan/mt against the 2610 contract, and Honglu-V (99.998) at a premium of 90 yuan/mt against the 2610 contract. In the second session, traders' quotes remained unchanged from the previous session. Although zinc prices on the futures market maintained a fluctuating trend, with the upcoming double holiday, downstream enterprises continued to stockpile on demand recently, and market traders continued to raise spot quotes, with spot premiums edging up slightly.

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