Shanghai Zinc: Futures Prices Fluctuate at Highs, Spot Market Trading Is Sluggish [SMM Midday Review]

Published: Aug 25, 2026 11:34

Save

[Shanghai Zinc: Futures Prices Fluctuated at Highs, Spot Market Trading Was Sluggish] Today, mainstream transaction prices for #0 zinc concentrated at 25,915~26,085 yuan/mt, Shuangyan mainly traded at 26,055~26,215 yuan/mt, and #1 zinc mainstream transactions were at 25,845~26,015 yuan/mt. In early trading, the market quoted premiums of 60~70 yuan/mt against the SMM average price, and no quotes were given against the futures market...

SMM August 25 news:

Today, mainstream transaction prices for #0 zinc were concentrated at 25,915~26,085 yuan/mt, Shuangyan mainly traded at 26,055~26,215 yuan/mt, and #1 zinc mainstream transactions at 25,845~26,015 yuan/mt. In the morning session, the market quoted premiums of 60~70 yuan/mt against the SMM average price, and no quotations against the futures were available. During the second trading period, ordinary domestic brands quoted at premiums of 10~20 yuan/mt against the 2609 contract, Baiyin quoted at a premium of 50 yuan/mt against the 2609 contract, and high-priced brand Shuangyan quoted at a premium of 150 yuan/mt against the 2609 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 1.9, and the shipment sentiment was 2.66. In the morning, SHFE zinc futures prices continued to rise to around 26,000 yuan/mt, downstream enterprises' fear of high prices intensified, and with month-end terminal orders showing no improvement, the market remained mostly wait-and-see today, and overall spot trade sentiment was sluggish.

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: Zinc Price Center Rises, Spot Cargo Trading Sluggish [SMM Midday Review]

[Guangdong: Zinc price center moved higher, spot market trading was sluggish] Guangdong 0# zinc was mainly traded at 25,900–26,005 yuan/mt, with mainstream brands quoting a discount of 120–60 yuan/mt against the 2610 contract, a premium of 10 yuan/mt against Shanghai spot zinc, and the Shanghai-Guangdong price spread remaining...

1 hour ago

Tianjin Zinc: Zinc Prices Consolidate at Highs, Downstream Inquiries Nearly Zero [SMM Noon Review]

[Tianjin Zinc: Zinc Prices Consolidated at Highs with Few Inquiries from Downstream] In the Tianjin market, #0 zinc ingot was mainly traded at 25,840-26,020 yuan/mt, while Zijin was traded at 25,990-26,110 yuan/mt. #1 zinc ingot was traded around 25,840-25,950 yuan/mt. Zijin reported a premium of 30-50 yuan/mt against the 2609 contract. Hu Zinc reported 27,210 yuan/mt. #0 zinc ingot reported a discount of 40-120 yuan/mt against the 2609 contract. The Tianjin market reported a discount of 50 yuan/mt against the Shanghai market.

1 hour ago

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

[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..

1 hour ago