Downstream actively picked up bargains, spot premiums rose significantly [SMM Ningbo Spot Weekly Review]

Published: Sep 18, 2026 14:35

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[Downstream users actively priced at lows, spot premiums rose notably]: This week, Ningbo spot premiums increased, with the overall average price up 50 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2610 contract were quoted at a premium of 10 yuan/mt, and at a premium of 25 yuan/mt against the Shanghai premium.

SMM, September 18:

This week, spot premiums in Ningbo rose, with the overall average price up 50 yuan/mt WoW. As of this Friday, Ningbo spot prices against the 2610 contract were quoted at a premium of 10 yuan/mt, and at a premium of 25 yuan/mt against the SHFE. During the week, zinc prices on the futures market fell notably, prompting downstream enterprises in Ningbo to actively purchase at lower prices. Meanwhile, with the National Day holiday approaching, downstream enterprises took advantage of the price pullback to stockpile, which significantly boosted spot market trading activity during the week and drove spot premiums higher. Next week, pre-holiday stockpiling demand ahead of National Day is expected to persist, and Ningbo spot premiums are likely to continue consolidating.

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