Typhoon is about to make landfall in Zhejiang, spot premiums edge up this week [SMM Ningbo Spot Weekly Review]

Published: Jul 10, 2026 13:59

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[Typhoon about to land in Zhejiang; spot premiums edged up during the week]: Spot premiums in Ningbo rose from low levels this week, with the overall average basically flat WoW. As of Friday, spot cargo in Ningbo was quoted at a discount of 20 yuan/mt against the 2608 contract, and a premium of 40 yuan/mt against Shanghai premiums. During the week, the premium against Shanghai maintained a fluctuating trend..

SMM, July 10:

Spot premiums in Ningbo rose from low levels this week, with the overall average price remaining basically flat WoW. As of this Friday, spot prices in Ningbo were quoted at a discount of 20 yuan/mt against the 2608 contract and at a premium of 40 yuan/mt against the Shanghai premium. During the week, the premium against Shanghai prices maintained a fluctuating trend. The typhoon plans to make landfall in Zhejiang over the weekend. During the week, some downstream enterprises actively picked up goods for delivery to their factories, and some traders took the opportunity to raise spot offer prices, causing spot premiums to rise accordingly. However, at the end of the week, futures zinc prices moved significantly higher, triggering strong fear of high prices among downstream enterprises, and purchase sentiment turned weaker WoW. Over the weekend, the typhoon’s landfall is expected to affect some vessel arrivals in Ningbo, and spot premiums next week are unlikely to see a significant decline.

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