Traders hold firm offers; spot trades weaken during the week [SMM Shanghai Spot Weekly Review]

Published: Sep 30, 2026 13:56 (GMT+8)

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[Trader quotes firm, spot trades weaken WoW]: This week, the average spot premium in Shanghai rose by 25 yuan/mt WoW. As of Wednesday, ordinary domestic brands were quoted at a premium of 30 yuan/mt against the 2611 contract, while the high-priced Shuangyan brand had no quotes against the 2611 contract.

SMM, September 30:

This week, the overall average spot premium in Shanghai rose by 25 yuan/mt WoW. As of Wednesday this week, ordinary domestic brands were quoted at a premium of 30 yuan/mt against the 2611 contract, while the high-priced brand Shuangyan had no quotes against the 2611 contract. With the National Day holiday approaching, most traders in the market were on holiday this week, overall shipments decreased significantly, and overall spot quotes remained firm. Meanwhile, downstream enterprises showed moderate buying interest, zinc futures prices maintained a fluctuating trend, and overall spot trades weakened WoW. After the holiday, downstream restocking demand is expected to emerge, and spot premiums are expected to remain firm.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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