Downstream Enterprises Actively Bought at Low Prices, Shanghai Spot Premiums Continued to Strengthen [SMM Shanghai Spot Weekly Review]

Published: Apr 30, 2026 15:57

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[Downstream Enterprises Actively Bought at Low Prices, Shanghai Spot Premiums Continued to Strengthen]: Shanghai spot premiums strengthened this week, with the weekly average price up 30 yuan/mt WoW. As of Thursday, ordinary domestic brands were quoted at parity against the 2606 contract, while the premium brand Shuangyan had no quote against the 2606 contract for the time being.

SMM April 30: Shanghai spot premiums strengthened this week, with the weekly average price up 30 yuan/mt WoW. As of Thursday, ordinary domestic brands were quoted at parity against the 2606 contract, while the premium brand Shuangyan had no quotes against the 2606 contract for now. Affected by billing issues, fewer traders shipped out of Shanghai this week, and overall market quotes remained firm. Mid-week, futures zinc prices pulled back notably, and downstream enterprises actively priced and purchased, improving overall spot trades with spot premiums rising continuously. However, as the week ended, the holiday atmosphere grew strong, and overall trading activity turned sluggish again. Spot premiums are expected to remain firm after the holiday.

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