Ningbo Zinc: Spot Premiums Continue to Rise, Trading Turns Weaker MoM [SMM Midday Commentary]

Published: Oct 14, 2026 11:25 (GMT+8)

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[Ningbo Zinc: Spot Premiums Continue to Rise, Trading Turns Weaker MoM] The transaction price of mainstream brand 0# zinc in the Ningbo market was around 25,690-25,860 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 55 yuan/mt against the 2611 contract and a premium of 30 yuan/mt against Shanghai spot cargo. Mainstream quotes in the Ningbo area were made against the 2611 contract.

SMM, October 14:

The transaction price of mainstream brand #0 zinc in the Ningbo market was around 25,690-25,860 yuan/mt. Conventional brands in Ningbo were quoted at a premium of 55 yuan/mt against the 2611 contract and a premium of 30 yuan/mt against Shanghai spot cargoes. The Ningbo region mainly quoted against the 2611 contract. In the first trading session, Qilin was quoted at a premium of 50-70 yuan/mt against the 2611 contract, and Anning was quoted at a premium of 50-70 yuan/mt against the 2611 contract. In the second trading session, traders' quotes were flat compared with the previous session. Zinc futures prices remained at low levels. Some traders in the market continued to raise their quotes, and spot premiums rose accordingly. However, some downstream buyers continued to expect lower prices, with more wait-and-see sentiment. Actual trading turned weaker MoM today.

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