Zinc Downstream Enterprises Saw Poor Orders, Spot Premiums Weakened During the Week [SMM Ningbo Spot Weekly Review]

Published: May 22, 2026 15:06

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[Zinc Downstream Enterprises Saw Poor Orders, Spot Premiums Weakened Within the Week]: Spot premiums in Ningbo edged down this week, with the weekly average price down 10 yuan/mt WoW. As of this Friday, Ningbo spot prices were quoted at a premium of 25 yuan/mt against the 2606 contract and a premium of 30 yuan/mt against the SHFE premium, with the SHFE premium narrowing gradually during the week.

SMM May 22 Update:

Spot premiums in Ningbo edged down this week, with the weekly average price down 10 yuan/mt WoW. As of this Friday, Ningbo spot prices against the SHFE zinc 2606 contract were quoted at a premium of 25 yuan/mt, with a premium of 30 yuan/mt against the Shanghai premium, which gradually narrowed over the week. Long-term contract zinc ingots arrived successively at the Ningbo market during the week, and the number of traders making shipments increased, while downstream alloy plants had poor orders. Combined with zinc futures fluctuating at highs during the week, overall spot transactions performed mediocrely this week. Some traders lowered spot quotes to facilitate shipments, and market spot premiums edged down slightly. Spot premiums are expected to fluctuate next week.

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