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

Save

[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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

Data: SHFE, DCE market movement (Feb 13)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 13 Feb , 2026

Common.Time.minsAgo

1 hour ago

The SHFE/LME zinc price ratio pulled back to around 7.1 and fluctuated [SMM Weekly Review of SHFE/LME Zinc Price Ratio]

[SHFE/LME price ratio pulled back to fluctuate near 7.1] This week, the SHFE/LME zinc price ratio pulled back to fluctuate near 7.1, and the zinc ingot import window remained closed. Overseas, although strong non-farm payrolls prompted the market to scale back bets on US Fed interest rate cuts, US retail sales unexpectedly stalled in December, geopolitical risks persisted, and LME social inventory continued to draw down, providing price support. LME zinc consistently fluctuated at highs.

1 hour ago

Non-farm payrolls data exceeded expectations, zinc prices on SHFE and LME pulled back [SMM Market Review - Weekly Price Commentary]

[Non-Farm Payrolls Data Exceed Expectations, SHFE and LME Zinc Prices Pull Back] At the beginning of the week, the gradual digestion of macro sentiment led to a decline in LME zinc; however, continued destocking of overseas LME zinc inventory provided bottom support for prices. Subsequently, as the market continued to await the delayed release of non-farm payrolls and CPI data, trading activity became more cautious, and LME zinc maintained a fluctuating trend.

1 hour ago