Shanghai Zinc: Futures Zinc Prices Maintain Fluctuating Trend, Market Trading Sluggish [SMM Midday Commentary]

Published: Sep 29, 2026 11:46 (GMT+8)

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[Shanghai Zinc: Futures Zinc Prices Maintain Fluctuating Trend, Market Trading Sluggish] Today, mainstream transaction prices for #0 zinc were concentrated at 26,420-26,640 yuan/mt, with no transactions for Shuangyan. Mainstream transaction prices for #1 zinc were at 26,350-26,570 yuan/mt. In the morning session, cargoes with invoices dated next month were quoted at premiums of 60-70 yuan/mt against the SMM average price, with no quotes against futures...

SMM, September 29:

Today, mainstream transaction prices for #0 zinc were concentrated at 26,420~26,640 yuan/mt, with no transactions for Shuangyan. #1 zinc was mainly traded at 26,350~26,570 yuan/mt. In the morning session, cargoes with invoices dated next month were quoted at premiums of 60~70 yuan/mt against the SMM average price, with no quotes against the contract. In the second trading session, ordinary domestic brands were quoted at a premium of 30 yuan/mt against the 2611 contract, silver was quoted at a premium of 90 yuan/mt against the 2610 contract, and the high-priced Shuangyan brand had no quotes against the 2610 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 1.88, and the selling sentiment was 2.45. With the National Day holiday approaching, downstream enterprises have largely completed their stockpiling. Today, purchasing sentiment was weak, and some traders were also off. Overall spot trades weakened MoM, and spot premiums changed little from yesterday.

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