Shanghai Zinc: Futures Zinc Prices Down MoM, Premiums in East China Rise [SMM Midday Commentary]

Published: Nov 06, 2026 12:00 (GMT+8)

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[Shanghai Zinc: Futures zinc prices fell MoM, while premiums in east China rose] Today, mainstream transaction prices for #0 zinc were concentrated at 25,370-25,905 yuan/mt, with no transactions for Shuangyan. Mainstream transaction prices for #1 zinc were at 25,300-25,500 yuan/mt. In early trading, market quotes were at premiums of 50-70 yuan/mt against the SMM average price, with no quotes against futures yet.

SMM, November 6:

Today, mainstream transaction prices for #0 zinc were concentrated at 25,370~25,905 yuan/mt, with no transactions for Shuangyan, while mainstream transaction prices for #1 zinc were at 25,300~25,500 yuan/mt. In the morning session, quotes against the SMM average price were at premiums of 50~70 yuan/mt, with no quotes against futures. In the second trading session, ordinary domestic brands were quoted at premiums of 90 yuan/mt against the 2612 contract, while high-priced brand Shuangyan had no quotes against the 2612 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 2.14, and the selling sentiment was 2.64. In the morning, zinc futures prices declined MoM, prompting downstream enterprises to actively lock in prices at lows. Spot transactions improved MoM, and suppliers in the east China market notably raised their spot quotes, driving spot premiums higher accordingly.

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