Shanghai Zinc: Market Traders Continue to Hold Prices Firm, Spot Premiums Rise [SMM Midday Commentary]

Published: Oct 14, 2026 11:27 (GMT+8)

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[Shanghai Zinc: Market Traders Continue to Hold Prices Firm, Spot Premiums Rise] Today, mainstream transaction prices for #0 zinc were concentrated at 25,740-25,930 yuan/mt, with no transactions for Shuangyan, and mainstream transactions for #1 zinc were at 25,670-25,860 yuan/mt. In early trading, market quotes against the SMM average price were at premiums of 90-100 yuan/mt, with no quotes against the contract yet...

SMM, October 14:

Today, mainstream transaction prices for #0 zinc were concentrated at 25,740~25,930 yuan/mt. Shuangyan had no transactions. #1 zinc was mainly traded at 25,670~25,860 yuan/mt. In the morning session, market quotes against the SMM average price were at premiums of 90~100 yuan/mt, with no quotes against futures. In the second trading session, ordinary domestic brands were quoted at a premium of 120 yuan/mt against the 2611 contract, while the high-priced Shuangyan brand was quoted at a premium of 320 yuan/mt against the 2611 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 2.08, and the shipment sentiment was 2.56. Zinc prices on the futures market remained at low levels. Traders in east China showed strong sentiment to hold prices firm, and overall spot premiums continued to rise MoM. However, downstream enterprises had previously locked in prices at low levels and generally held some raw material inventory, leading to a certain wait-and-see sentiment today.

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