Zinc Downstream Enterprises Mostly on the Sidelines, Spot Trades Sluggish During the Week [SMM Shanghai Spot Weekly Review]

Published: May 15, 2026 14:16

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[Downstream Zinc Enterprises Mostly on the Sidelines, Spot Trades Sluggish During the Week]: Spot premiums in Shanghai declined WoW this week, but the overall weekly average price rose 10 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a premium of 0-50 yuan/mt against the 2606 contract, while the premium brand Shuangyan was quoted at a premium of 100-120 yuan/mt against the 2606 contract.

SMM May 15 update: Spot premiums in Shanghai declined WoW this week, but the overall weekly average price rose 10 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a premium of 0-50 yuan/mt against the 2606 contract, while the premium brand Shuangyan was quoted at a premium of 100-120 yuan/mt against the 2606 contract. Zinc futures prices rose consecutively this week, and downstream enterprises in east China continued to stay on the sidelines. Overall spot trades were sluggish, and traders kept lowering spot quotes to facilitate shipments. However, zinc futures prices declined toward the end of the week, prompting some downstream enterprises to purchase spot cargoes, leading to a slight improvement in spot transactions. Bill settlement issues continued to affect traders' shipments, and spot premiums are expected to remain firm next week.

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