Shanghai Zinc Ingot Inventory Slightly Destocks, Zinc Ingot Spot Discounts Narrow [SMM Shanghai Spot Weekly Review]

Published: Jun 12, 2026 15:29

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[Shanghai zinc ingot inventory slightly destocked, spot zinc discounts narrowed]: This week, spot discounts in Shanghai narrowed, with the weekly average price up 20 yuan/mt WoW. As of Friday this week, ordinary domestic brands were quoted at discounts of 10-0 yuan/mt against the 2607 contract, while the high-priced brand Shuangyan was quoted at a premium of 60 yuan/mt against the 2607 contract.

SMM June 12:

Shanghai spot discounts narrowed this week, with the weekly average price up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of 10-0 yuan/mt against the 2607 contract, while the high-end brand Shuangyan was quoted at a premium of 60 yuan/mt against the 2607 contract. Shanghai zinc ingot inventory saw a slight destocking this week. In the first half of the week, zinc futures prices fluctuated, and downstream enterprises purchased on demand, with overall transactions being mediocre. However, in the second half of the week, zinc prices dropped significantly, prompting downstream enterprises to step up purchases, leading to a WoW improvement in overall transactions. Spot premiums were also raised. It is expected that spot premiums will maintain a fluctuating trend next week.

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