Zinc Futures Prices Fluctuated at Highs During the Week, Spot Trades Were Moderate [SMM Shanghai Spot Weekly Review]

Published: May 29, 2026 15:44

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[SHFE Zinc Prices Fluctuated at Highs, Spot Trades Were Moderate]: Shanghai spot premiums fluctuated this week, with the weekly average price up 5 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a discount of 80-50 yuan/mt against the 2607 contract, while the premium brand Shuangyan was quoted at a premium of 130 yuan/mt against the 2607 contract.

SMM May 29 News:

Shanghai spot premiums fluctuated this week, with the weekly average price up 5 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a discount of 80-50 yuan/mt against the 2607 contract, while the premium brand Shuangyan was quoted at a premium of 130 yuan/mt against the 2607 contract. Zinc ingot inventory levels in Shanghai warehouses remained elevated, with many traders making shipments in the market. However, SHFE zinc prices fluctuated at highs during the week, and downstream enterprises of zinc in east China were cautious about high prices and mostly stayed on the sidelines. Spot transactions during the week were basically order-based, and overall spot trades were lukewarm. Spot premiums struggled to rise during the week, and premiums are expected to maintain a fluctuating trend next week.

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