Traders continued to hold prices firm and sell, Shanghai spot premiums rose significantly [SMM Shanghai Spot Weekly Review]

Published: Jul 17, 2026 15:39

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[Traders Continue to Hold Prices Firm and Sell, Shanghai Spot Premiums Rise Significantly]: This week, Shanghai spot premiums rose significantly, up 30 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a premium of 40 yuan/mt against the 2608 contract, while the high-priced brand Shuangyan was quoted at a premium of 130-150 yuan/mt against the 2608 contract..

SMM July 17:

This week, Shanghai spot zinc premiums rose significantly, up 30 yuan/mt WoW from the weekly average price. As of this Friday, ordinary domestic brands were quoted at a premium of 40 yuan/mt against the 2608 contract, while the high-grade brand Shuangyan was quoted at premiums of 130-150 yuan/mt against the contract. SHFE zinc futures consolidated this week. Downstream enterprises saw weak orders in the off-season, with overall inquiries and purchases being moderate, and spot transactions were mostly need-based. However, recently, bills in the Shanghai market offered certain profit margins, and coupled with the opening of the zinc ingot export window, overall zinc ingot circulation decreased. Traders continued to hold prices firm and sell throughout the week, and spot premiums climbed steadily. Premiums are expected to remain firm next week.

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