Ningbo Zinc: Spot Quotes Held Steady, Market Sentiment Sluggish [SMM Midday Commentary]

Published: Aug 25, 2026 11:33

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[Ningbo Zinc: Spot Quotes Held Steady; Market Sentiment Sluggish] In the Ningbo market, transaction prices for mainstream brands of 0# zinc were around 25,925-26,055 yuan/mt. Ningbo conventional brands were quoted at a premium of 0 yuan/mt against the 2609 contract and a premium of 50 yuan/mt against Shanghai spot cargo. In the Ningbo area, mainstream quotes were made against the 2609 contract..

SMM News on August 25:

In the Ningbo market, transaction prices for mainstream 0# zinc brands were around 25,925-26,055 yuan/mt. Ningbo conventional brands were quoted at a premium of 0 yuan/mt against the 2609 contract and a premium of 50 yuan/mt against Shanghai spot cargo, with mainstream quotes in Ningbo being made against the 2609 contract. In the first time period, Yongchang and Qilin were quoted at a premium of 0-10 yuan/mt against the 2609 contract; Anning was quoted at a premium of -10-20 yuan/mt against the 2609 contract; and Honglu -v (99.998) was quoted at a premium of 20 yuan/mt against the 2609 contract. In the second time period, traders’ quotes were unchanged from the previous time period. Congestion at Ningbo port affected arrivals of some zinc ingot, but downstream producers saw no improvement in orders. In addition, as futures prices rose consecutively, downstream enterprises still showed poor purchase willingness today. Overall spot trading was sluggish, traders quoted casually, and spot premiums held steady MoM.

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