As the Chinese New Year approaches, market trading was subdued during the week [SMM Shanghai Spot Cargo Weekly Review].

Published: Feb 13, 2026 13:56

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[Chinese New Year Approaches, Trading Activity Slows During the Week]: Spot premiums in Shanghai fluctuated this week, with the weekly average price rising 10 yuan/mt WoW. As of Friday, spot prices for common domestic brands against the 2603 contract were at a premium of 40-50 yuan/mt, while the premium brand Shuangyan had no offers against the 2603 contract.

SMM February 13: Shanghai spot premiums fluctuated this week, with the weekly average price up 10 yuan/mt WoW. As of Friday, premiums for common domestic brands against the 2603 contract were 40-50 yuan/mt, while the high-priced brand Shuangyan had no offers against the 2603 contract. With the Chinese New Year approaching, downstream enterprises in east China entered holidays successively, leading to a significant weakening in zinc ingot demand, and Shanghai zinc ingot inventory continued to accumulate. Meanwhile, most traders were on holiday this week, and the few who offered quotes were relatively inactive. Overall, the market was dominated by a holiday atmosphere, trading activity was sluggish, and spot premiums fluctuated.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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