Shanghai Zinc: Suppliers Continue to Hold Prices Firm, Spot Premiums Continue to Rise [SMM Midday Review]

Published: Jul 30, 2026 11:46

Save

[Shanghai Zinc: Suppliers Hold Prices Firm, Spot Premiums Continue to Rise] Today, #0 zinc mainstream transaction prices were concentrated at 24,715-24,855 yuan/mt, Shuangyan mainstream transactions were at 24,825-24,965 yuan/mt, and #1 zinc mainstream transactions were at 24,645-24,785 yuan/mt. In early trading, the market saw offers for cargoes with invoices dated next month at a premium of 30-40 yuan/mt against SMM average prices, and no quotes were reported against the futures contract...

SMM July 30 News:

Today, #0 zinc mainstream transaction prices concentrated in 24715~24855 yuan/mt, Shuangyan mainstream transactions at 24825~24965 yuan/mt, and #1 zinc mainstream transactions at 24645~24785 yuan/mt. In early trading, the market quoted premiums of 30~40 yuan/mt against the SMM average price for cargoes with invoices dated next month, with no quotes yet against the futures contract. In the second trading session, ordinary domestic brands were quoted at a premium of 20 yuan/mt against the 2609 contract, silver at a premium of 100 yuan/mt against the 2608 contract, and the high-end brand Shuangyan at a premium of 130 yuan/mt against the 2609 contract. Today, the sentiment for refined zinc procurement in Shanghai was 1.98, and the shipment sentiment was 2.55. SHFE zinc futures prices stayed high today, downstream enterprises continued their wait-and-see sentiment, inquiries and purchases showed no improvement from yesterday, and overall spot trades were sluggish. However, at month-end, traders' willingness to sell was weak, overall market liquidity of goods decreased, traders continued to hold prices firm, and some spot quotations continued to rise.

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.

Images in this article contain AI-translated captions for reference only.

For any inquiries or for 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

1 hour ago

Guangdong Zinc: Downstream Procurement Enthusiasm Insufficient, Premiums Rise Weakly [SMM Midday Comment]

[Guangdong: Downstream Procurement Enthusiasm Insufficient, Premium Rise Relatively Weak] Guangdong mainstream #0 zinc traded at 24,620–24,750 yuan/mt, mainstream brands quoted discounts of 85–75 yuan/mt against the 2609 contract, and a discount of 70 yuan/mt against Shanghai spot zinc. The Shanghai-Guangdong price spread widened...

1 hour ago

2 hours ago

Ningbo Zinc: Traders Sell Casually, Spot Premiums Stay Firm [SMM Midday Commentary]

[Ningbo zinc: traders take a laid-back approach to shipments, spot premiums remain firm] The transaction prices of mainstream brand 0# zinc in the Ningbo market were around 24,715-24,825 yuan/mt. For conventional brands in Ningbo, the premium quoted against the 2609 contract was 5 yuan/mt, and against Shanghai spot zinc the quoted premium was 25 yuan/mt. In the Ningbo area, mainstream brands are primarily quoted against the 2609 contract...

2 hours ago

【SMM Flash】South32’s Hermosa Zinc-Silver Project Secures Final Federal Permit, Targets First Production in Early 2028

South32’s Hermosa zinc-silver project in southern Arizona received its final federal Record of Decision in early July, completing the FAST-41 permitting process. The approval covers public-land infrastructure, including a high-voltage transmission line, a second access road, tailings facilities and water-discharge points. The mine itself had already received Arizona state approval, with construction on private land about halfway complete. Hermosa hosts a major undeveloped zinc deposit, alongside a battery-grade manganese deposit and the emerging Peak copper discovery. Construction costs have risen above $2 billion amid inflation, materials, labour and contractor pressures, although South32 says most remaining work is now contracted. Both production shafts are expected to reach final depth before year-end; underground mining is scheduled for late 2027 and first production is targeted for early 2028. These remain planned milestones subject to project execution.

2 hours ago