Shanghai Zinc Spot Premiums Rise to Record High as Short Squeeze Intensifies, SMM Reports

According to the latest customs data, galvanized sheet exports stood at 926,600 mt in January 2026 and 1.1677 million mt in February, bringing cumulative exports in January-February to 2.0942 million mt, down 0.14% YoY. China’s total galvanized sheet exports in January-February this year were basically flat YoY. .

On the 25th, it was confirmed that the South Korean government will exempt tariffs of 3–8% on critical minerals such as lithium, graphite, and rare earth elements when domestically owned companies directly produce and import them from overseas. The Ministry of Trade, Industry and Energy has pre-announced a new regulation outlining tariff exemptions for overseas resource development projects. Under the policy, a total of 14 critical minerals—including lithium, graphite, nickel, cobalt, manganese, copper, zinc, and rare earth elements such as lanthanum, cerium, neodymium, terbium, dysprosium, yttrium, and scandium—will be eligible for duty exemption when brought into the country. The regulation is set to take effect on April 3.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 26 Mar , 2026