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

Published: Jul 30, 2026 11:46

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[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.

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