Zinc Prices Hit a New High for the Year; Spot Premiums in the Doldrums [SMM Ningbo Spot Weekly Review]

Published: Sep 11, 2026 15:40

Save

[Zinc Prices Hit a New High for the Year; Spot Premiums in the Doldrums]: This week, spot premiums in Ningbo consolidated at lows, with the overall average price down 10 yuan/mt WoW. As of this Friday, spot prices in Ningbo against the 2610 contract were quoted at a discount of 60 yuan/mt, and at a premium of 30 yuan/mt against the SHFE price.

SMM, September 11:

This week, spot premiums in Ningbo consolidated at lows, with the overall average price down 10 yuan/mt WoW. As of this Friday, spot prices against the SHFE 2610 contract were quoted at a discount of 60 yuan/mt, and at a premium of 30 yuan/mt against the Shanghai premium. During the week, zinc prices on the futures market hit a new high for the year, and downstream enterprises showed strong fear of high prices, with almost no purchase willingness throughout the week. Traders faced sluggish shipments and largely quoted prices passively. However, zinc prices fell significantly toward the end of the week, prompting some downstream buyers to take the opportunity to purchase at fixed prices. Overall, spot premiums declined first and then rose during the week. With no clear improvement in consumption, premiums are expected to see limited upside next week.

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.

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

6 mins ago

SHFE/LME zinc price ratio rebounds to consolidate around 6.8, export window remains open [SMM Zinc SHFE/LME Price Ratio Weekly Review]

[SHFE/LME price ratio rebounds to consolidate around 6.8]: This week, the SHFE/LME price ratio held around 6.8, with the export window for China's zinc ingot opening up. Outside China, US PPI data exceeded expectations, driving up expectations for US Fed interest rate hikes. The dollar strengthened toward the end of the week, putting LME zinc under pressure and pulling it back.

6 mins ago

8 mins ago

Marginal consumption improvement in September; limited recovery in operating rates of galvanising producers [SMM galvanising weekly review]

[Consumption marginally improves in September, limited recovery in galvanising operating rates]: This week, the operating rate of the galvanising industry was 52.49%, up 0.69 percentage points WoW. Raw material side, zinc prices continued to consolidate at highs this week before pulling back at the end of the week, but they did not reach downstream psychological price levels. Raw material inventory remained at low levels overall, with cautious stockpiling sentiment.

8 mins ago

22 mins ago

Smelters Continue to Fulfill Previous Contracts, TCs Remain Low in Multiple Regions [SMM Zinc Concentrates Weekly Review]

[Smelters continue to execute previously signed contracts, with TCs remaining low across multiple regions]: On a weekly basis, the average weekly domestic TC for SMM Zn50 remained flat MoM at -2,100 yuan/mt Zn, while the SMM Imported Zinc Concentrate Index fell $1.6/dmt MoM to -$126.1/dmt....

22 mins ago