Ningbo Zinc: Trader Quotes Diverge, Premiums Continue to Decline [SMM Midday Commentary]

Published: Oct 23, 2026 13:43 (GMT+8)

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[Ningbo Zinc: Trader Quotes Diverge, Premiums Continue to Fall] Mainstream brand 0# zinc in the Ningbo market traded at around 25,300-25,400 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 25 yuan/mt against the 2611 contract and a premium of 20 yuan/mt against spot cargo in Shanghai. Ningbo mainstream quotes were mainly against the 2611 contract...

SMM, October 23:

Mainstream brand 0# zinc in the Ningbo market traded at around 25,300–25,400 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 25 yuan/mt against the 2611 contract and a premium of 20 yuan/mt against spot prices in Shanghai. The Ningbo region mainly quoted against the 2611 contract. In the first session, Qilin was quoted at a premium of 0–50 yuan/mt against the 2611 contract, and Anning was quoted at a premium of 20–40 yuan/mt against the 2611 contract. In the second session, trader quotes were unchanged from the previous session. Zinc futures prices edged down, and some downstream buyers purchased on fixed prices, but overall spot transactions improved only modestly. Some traders in the market continued to lower spot quotes, and premiums fell further today.

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