In recent years, spot premiums in the European zinc market have shown significantly greater volatility amid fluctuations in energy costs, regional supply-demand mismatches, frequent temporary smelter curtailments, and shifts in inter-regional trade flows. As one of Europe’s most important hubs for non-ferrous metals logistics, warehousing and spot trade, Rotterdam has long played a key role in the distribution, storage and circulation of imported refined zinc in Europe. The in-warehouse pickup price for SHG zinc in Rotterdam has long been closely watched by the market and is widely regarded as an important indicator of regional spot availability, import flows and long-term premium negotiations.
In the European refined zinc trade, long-term contracts remain the dominant supply model. However, the in-warehouse pickup price for SHG zinc in Rotterdam, as an important pricing signal for the marginal spot market, continues to attract close attention from market participants. Movements in its premium or discount against the LME benchmark settlement price provide an important reference for assessing regional spot availability, import windows and trading opportunities.
Against this backdrop, Shanghai Metals Market (SMM), leveraging its research network across the global zinc value chain and its independent price assessment framework, is officially launching the SHG zinc premium, in-warehouse Rotterdam price assessment. This launch aims to provide traders, smelters, end-users and financial market participants with an authoritative and verifiable European spot zinc premium benchmark, further enhancing regional market transparency and strengthening SMM’s global zinc spot pricing system.
This price is assessed against the LME zinc official cash seller & settlement price and reflects the spot premium level for special high grade zinc in-warehouse Rotterdam, duty unpaid. The assessment is conducted in strict accordance with SMM methodology and published by analysts from SMM London team. It will be updated simultaneously on SMM’s Chinese Official website (smm.cn) and English Official website (metal.com) every Friday at 12:00 noon London time (GMT+0).
The launch of this new assessment carries broad significance for both the European and global zinc markets:
- Providing buyers with a reliable procurement reference The SMM price can serve as an important benchmark for spot procurement, import parity analysis, cost calculations and contract negotiations, helping buyers more accurately assess regional spot supply-demand conditions and the timing of purchases.
- Providing sellers with a fair pricing benchmark Sellers can use the assessment as a reference in making pricing decisions, reducing disputes caused by opaque market information or inconsistent quotation practices, and promoting more standardized and efficient spot zinc trade in Europe.
- Offering the market a key indicator of changes in European spot fundamentals The Rotterdam In-Warehouse SHG Zinc Premium can more directly reflect changes in regional spot availability, import flows and trading activity, providing a valuable reference for assessing whether the European zinc market is moving toward tighter or looser spot conditions.
The launch of the SHG zinc premium, in-warehouse Rotterdam will further strengthen SMM’s global zinc spot pricing network and provide an authoritative reference for spot trade, cross-regional resource allocation and market analysis in Europe. Going forward, SMM will continue to optimize its assessment methodology, listen closely to market feedback, and contribute to a more transparent, efficient and healthy global zinc market.
Official launch date: May 1, 2026
Contact: Yueang He, Lead & Zinc Analyst, SMM London Office
Email: yueanghe@smm.cn | Tel/WhatsApp: +44 07522173725
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