Shanghai Zinc: SHFE zinc futures price up MoM, spot market sentiment remains sluggish [SMM noon review]

Published: Aug 26, 2026 13:47

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[Shanghai Zinc: SHFE Zinc Futures Prices Up MoM, Spot Market Sentiment Remains Sluggish] Today, the mainstream transaction price for #0 zinc was concentrated at 26,175-26,345 yuan/mt, with Shuangyan mainly traded at 26,325-26,495 yuan/mt, and #1 zinc mainstream transactions at 26,105-26,275 yuan/mt. In the early session, cargoes with invoices dated next month were quoted at a premium of 40-60 yuan/mt against the SMM average price, while no quotes for futures were available...

SMM August 26 News:

Today, mainstream transaction prices for #0 zinc were concentrated at 26,175~26,345 yuan/mt, with Shuangyan mainly traded at 26,325~26,495 yuan/mt, and #1 zinc mainly traded at 26,105~26,275 yuan/mt. In the early session, cargoes with invoices dated next month were quoted at premiums of 40~60 yuan/mt against the SMM average price, with no quotes against the futures contract. During the second trading session, ordinary domestic brands were quoted at a premium of 0 yuan/mt against the 2609 contract, Baiyin at a premium of 30 yuan/mt against the 2609 contract, and high-end brand Shuangyan at a premium of 150 yuan/mt against the 2609 contract. Today, the purchase sentiment for refined zinc in Shanghai was 1.9, while the shipments sentiment was 2.64. In the morning, SHFE zinc futures continued to rise above 26,000 yuan/mt, exacerbating downstream enterprises' fear of high prices. The spot market was filled with a wait-and-see sentiment today, and traders also sold and quoted indifferently. Spot premiums changed relatively little MoM, and overall spot trades were sluggish.

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