Traders Held Firm on Offers, Spot Premiums Rose WoW [SMM Shanghai Spot Weekly Review]

Published: Mar 27, 2026 15:21

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[Traders' Offers Remained Firm, Spot Premiums Rose WoW]: Spot premiums in Shanghai increased this week, with the weekly average price up 35 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at a discount of 10 yuan/mt to a premium of 10 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2605 contract..

SMM News on March 27: Shanghai spot premiums rose this week, up 35 yuan/mt from the weekly average price last week. As of this Friday, ordinary domestic brands were quoted at discounts of 10 yuan/mt to premiums of 10 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2605 contract. Traders' quotes in the market were relatively firm this week, but zinc prices on the futures market rose during the week. In addition, downstream enterprises had built up some raw material inventory through purchases last week, and wait-and-see sentiment resurfaced this week. Zinc ingot transactions during the week were mostly driven by immediate demand, and spot premiums were expected to maintain fluctuating trend next week.

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