Traders Held Firm on Quotes, and Spot Premiums Continued to Rise [SMM Shanghai Spot Weekly Review]

Published: Apr 3, 2026 16:01

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[Traders Held Firm Offers, and Spot Premiums Continued to Rise]: Spot premiums in Shanghai kept rising this week, up 30 yuan/mt WoW in terms of the weekly average price. As of this Friday, ordinary domestic brands were quoted at a discount of 20 yuan/mt against the 2605 contract, while the high-priced brand Shuangyan was quoted at a premium of 40-50 yuan/mt against the 2605 contract..

SMM, April 3: Spot premiums in Shanghai continued to rise this week, up 30 yuan/mt from the previous week's average price. As of this Friday, ordinary domestic brands were quoted at a discount of 20 yuan/mt against the 2605 contract, while the high-priced brand Shuangyan was quoted at a premium of 40-50 yuan/mt against the 2605 contract. This week, the center of zinc prices gradually moved higher, and downstream enterprises continued to pick up goods of previously price-fixed zinc ingot. Purchases of spot zinc ingot during the week were mostly driven by rigid demand. Overall spot transactions showed mediocre performance, but suppliers held firm on quotes, driving spot premiums higher during the week. Spot premiums are expected to hold up well next week.

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