Futures Zinc Prices Fell Significantly, While Spot Premiums Strengthened During the Week [SMM Shanghai Spot Weekly Review]

Published: Mar 20, 2026 15:22

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[Futures Zinc Prices Fell Sharply, While Spot Premiums Strengthened During the Week]: Shanghai spot premiums strengthened this week, with the weekly average price up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of 30 yuan/mt to 20 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2604 contract.

SMM News, March 20: Spot premiums in Shanghai strengthened this week, with the weekly average price up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of 30 to 20 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2604 contract. During the week, SHFE zinc prices fell consecutively after breaking key levels. Downstream enterprises actively made pricing decisions and purchased on dips, and overall trading in Shanghai's spot zinc ingot market improved significantly. Shanghai zinc ingot inventory consequently declined, while traders were also active in offering shipments, driving spot premiums higher during the week. Spot premiums are expected to maintain fluctuating trend next week.

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