Futures zinc price stays high, spot premiums struggle to rise [SMM Ningbo Spot Weekly Review]

Published: Jun 5, 2026 15:59

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[Futures zinc prices stay high, spot premiums struggle to rise]: This week, Ningbo spot premiums remained stable, with the WoW average price basically flat. As of this Friday, Ningbo spot against the 2607 contract was quoted at a discount of 40 yuan/mt, and the premium against Shanghai was 30 yuan/mt. During the week, the premium against Shanghai maintained a fluctuating trend..

SMM June 5:

This week, spot premiums in Ningbo remained stable, basically flat WoW from the weekly average. As of Friday, Ningbo spot prices against the SHFE 2607 contract were quoted at a discount of 40 yuan/mt and a premium of 30 yuan/mt against the SHFE, with the premium against SHFE maintaining a fluctuating trend during the week. This week, inventories in Zhejiang saw no significant destocking. During the week, SHFE zinc prices rose first and then fell, but overall stayed high. Downstream alloy plants, cautious of high prices, made little inquiries and purchases. Spot trades were generally sluggish during the week, with spot premiums struggling to rise. Downstream consumption remained weak, and next week, premium increases are expected to be limited.

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