Traders' Laid-Back Shipment Quotes, Spot Premiums Struggled to Rise During the Week [SMM Ningbo Spot Weekly Review]

Published: Jul 3, 2026 15:41

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[Traders Nonchalantly Quote Shipment Prices, Spot Premiums Struggle to Rise This Week]: This week, spot premiums in Ningbo were basically stable, with the average price up 30 yuan/mt WoW. As of Friday, spot prices in Ningbo against the 2608 contract were quoted at a discount of 30 yuan/mt, with a premium of 35 yuan/mt against the Shanghai premium. Throughout the week, the price against the Shanghai premium maintained a fluctuating trend.

SMM July 3 News:

Ningbo spot premiums were basically stable this week, with the overall average premium up 30 yuan/mt WoW. As of this Friday, spot prices against the 2608 contract in Ningbo were quoted at a discount of 30 yuan/mt, and at a premium of 35 yuan/mt against Shanghai. During the week, the premium against Shanghai maintained a fluctuating trend. In the Ningbo market this week, traders offered prices passively; downstream zinc alloy plants saw weak orders in the off-season, and earlier dip-buying left them with some raw material inventory. As a result, zinc ingot traders experienced sluggish shipments, market trading was poor, and spot premiums held stable at low levels. With persistently sluggish consumption, premiums are expected to be hard to improve next week.

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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