Higher freight costs drive up quotes; Shanghai spot premiums rise this week [SMM Shanghai Spot Weekly Review]

Published: Sep 24, 2026 15:24 (GMT+8)

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[Higher freight costs drive offers up, Shanghai premiums rise this week]: This week, average spot premiums in Shanghai rose 25 yuan/mt WoW. As of Thursday this week, mainstream domestic brands were offered at premiums of 70-80 yuan/mt against the 2610 contract, while no offers were available for the high-priced Shuangyan brand against the 2610 contract.

SMM, September 24:

This week, the overall average spot premiums in Shanghai rose by 25 yuan/mt WoW. As of Thursday this week, ordinary domestic brands were quoted at premiums of 70-80 yuan/mt against the 2610 contract, while the high-priced brand Shuangyan had no quotes against the 2610 contract. This week, zinc prices on the futures market maintained a fluctuating trend, and downstream enterprises showed moderate interest in inquiries and purchases, with overall transactions delivering a mediocre performance during the week. However, with the dual holidays approaching, rising oil prices and fewer vehicles drove freight costs higher, prompting some traders to raise their spot quotes. Shanghai premiums are expected to remain firm next week.

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