Traders casually offered shipments and quoted prices, spot premiums changed little [SMM Ningbo Spot Weekly Review]

Published: Jul 31, 2026 16:04

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[Traders' Relaxed Selling Quotes, Spot Premiums Showing Little Change]: This week, spot premiums in Ningbo consolidated, with the overall average price up 5 yuan/mt WoW. As of Friday, the Ningbo spot against the 2609 contract was quoted at a premium of 5 yuan/mt, and the Shanghai premium was at a premium of 25 yuan/mt. Throughout the week, the Shanghai premium maintained a fluctuating trend..

SMM July 31:

This week, spot premiums in Ningbo consolidated, with the overall average price up 5 yuan/mt WoW. As of this Friday, spot prices in Ningbo against the 2609 contract were quoted at a premium of 5 yuan/mt, and against Shanghai, the premium was 25 yuan/mt. During the week, the premium against Shanghai maintained a fluctuating trend. The spot market in Ningbo had ample supply, and downstream enterprises saw weak orders in the off-season. Spot purchasing enthusiasm was poor this week, and overall spot transactions remained need-based. However, traders basically quoted prices for shipments in a laid-back manner throughout the week. Spot premiums for zinc ingot remained firm this week, and it is expected that premiums will maintain a fluctuating trend next week.

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