Nearing the National Day holiday, downstream enterprises in Ningbo have completed stockpiling and remain on the sidelines [SMM Ningbo Spot Weekly Review]

Published: Sep 30, 2026 13:54 (GMT+8)

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[Stockpiling Completed by Downstream Enterprises in Ningbo Ahead of National Day Holiday, Staying on the Sidelines]: Spot premiums in Ningbo rose this week, with the overall average price up 30 yuan/mt WoW. As of Wednesday this week, Ningbo spot prices against the 2611 contract were quoted at a discount of 10 yuan/mt, a premium of 30 yuan/mt against Shanghai.

SMM, September 30:

Ningbo spot premiums rose this week, with the overall average price up 30 yuan/mt WoW. As of Wednesday this week, Ningbo spot prices against the 2611 contract were quoted at a discount of 10 yuan/mt, and at a premium of 30 yuan/mt against the Shanghai premium. In the last trading week before the National Day holiday, downstream enterprises had largely completed their early stockpiling and mostly took a wait-and-see stance this week. Overall spot trades were sluggish, and market traders sold at a relaxed pace. Spot quotes were continuously raised, driving spot premiums higher. Premiums are expected to consolidate after the holiday.

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