Trading Volume Remained Low in the Last Trading Week Before the Holiday [SMM Ningbo Spot Cargo Weekly Review]

Published: Feb 13, 2026 13:55

Save

[Last Trading Week Before the Holiday: Market Trading Was Sluggish] Spot discounts in Ningbo widened this week, with the weekly average price down 15 yuan/mt WoW. As of Friday, spot prices in Ningbo were at a discount of 45 yuan/mt against the 2603 contract and a discount of 10 yuan/mt against Shanghai prices, while the discount against Shanghai prices fluctuated during the week.

SMM February 13:

Spot discounts in Ningbo widened this week, down 15 yuan/mt WoW. As of Friday, spot prices in Ningbo were at a discount of 45 yuan/mt against the 2603 contract and a discount of 10 yuan/mt against Shanghai prices, with the discount against Shanghai fluctuating during the week. In the last trading week before the holiday, some traders proactively lowered spot quotations to facilitate shipments, leading to wider spot discounts. However, most downstream enterprises had entered holiday mode, with almost no inquiries or purchases for spot cargo during the week, resulting in overall sluggish spot transactions. It is expected that spot discounts may narrow as post-holiday consumption recovers.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Mar 13, 2026 18:52

North China Mine Sets March Zinc Concentrates Tender at 2,300 Yuan/mt with Profit-Sharing

[Zinc Concentrates Tender] According to SMM, the March tender price for self pick-up at the mine for zinc concentrates at a mine in North China was around 2,300 yuan/mt in metal content (including the 20/80 profit-sharing arrangement), with the enriched metal not priced. SMM will continue to monitor subsequent changes in processing fees.

Mar 13, 2026 18:52

Zinc Concentrates Market Faces Supply Concerns as Disruptions in Iran, Australia Persist

[Imported Zinc Concentrates Market] Disruptions in Iran and Australia persisted recently, and the market’s concern over zinc concentrates supply continued. This week, traders of imported zinc ore continued to lower spot quotes. It was learned that some recent offers for bulk cargoes of zinc-rich zinc concentrates fell to negative prices.

Mar 13, 2026 18:52

Mar 13, 2026 16:58

Secondary Zinc Oxide Payables Remained Relatively Firm, How Will They Perform in March [SMM Analysis]

Secondary Zinc Oxide Production Fell in February, While Secondary Zinc Oxide Payables Remained Relatively Firm. What Trend Will Secondary Zinc Oxide Show in March?

Mar 13, 2026 16:58