Shanghai Zinc: Futures Prices Rise Significantly, Market Atmosphere Sluggish [SMM Midday Comment]

Published: Aug 7, 2026 11:48

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[Shanghai Zinc: Futures Prices Rose Significantly, Market Sentiment Sluggish] Today, mainstream transaction prices for #0 zinc were concentrated in the range of 25,845-26,030 yuan/mt, with Shuangyan mainly trading at 25,985-26,200 yuan/mt and #1 zinc at 25,775-25,960 yuan/mt. In the morning session, the market offered at a premium of 30-40 yuan/mt against the SMM average price, while no quotes were given against the futures...

SMM August 7 –

Today, #0 zinc mainstream transaction prices were mainly in the range of 25,845~26,030 yuan/mt, Shuangyan was mainly traded at 25,985~26,200 yuan/mt, and #1 zinc was mainly traded at 25,775~25,960 yuan/mt. During the morning session, market quotations against the SMM average price were at premiums of 30~40 yuan/mt, with no quotes given for the contract. In the second trading session, ordinary domestic brand quotations against the 2609 contract were at premiums of 0~10 yuan/mt, silver brand was quoted at a premium of 60 yuan/mt against the 2609 contract, and high-priced Shuangyan brand was at premiums of 140~180 yuan/mt against the 2609 contract. Today, the procurement sentiment for refined zinc in the Shanghai region stood at 1.72, and the shipment sentiment was at 2.52. Today, SHFE zinc futures prices rose day-on-day to around 26,000 yuan/mt, leading to strong fear of high prices among downstream enterprises. They remained on the sidelines with almost no inquiries today. Overall spot trades were sluggish, and traders quoted prices in a laid-back manner, with overall premiums seeing little change from yesterday.

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