Futures Zinc Prices Fell Significantly, While Spot Premiums Strengthened During the Week [SMM Shanghai Spot Weekly Review]

Published: Mar 20, 2026 15:22

Save

[Futures Zinc Prices Fell Sharply, While Spot Premiums Strengthened During the Week]: Shanghai spot premiums strengthened this week, with the weekly average price up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of 30 yuan/mt to 20 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2604 contract.

SMM News, March 20: Spot premiums in Shanghai strengthened this week, with the weekly average price up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of 30 to 20 yuan/mt against the 2604 contract, while the high-priced brand Shuangyan was quoted at a premium of 50 yuan/mt against the 2604 contract. During the week, SHFE zinc prices fell consecutively after breaking key levels. Downstream enterprises actively made pricing decisions and purchased on dips, and overall trading in Shanghai's spot zinc ingot market improved significantly. Shanghai zinc ingot inventory consequently declined, while traders were also active in offering shipments, driving spot premiums higher during the week. Spot premiums are expected to maintain fluctuating trend next week.

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

6 hours ago

Boliden Temporarily Halts Garpenberg Zinc Mine Due to Seismic Activity

[Garpenberg Zinc Concentrates Production Was Suspended Due to Seismic Activity] According to Boliden, production at the Garpenberg mine was temporarily suspended on March 14 due to seismic activity, and the beneficiation plant subsequently also halted production. Seismic activity has since eased, and preliminary inspections of the mine began on March 18. Mine production will gradually resume after inspections of the infrastructure and mining workplaces are completed. It is not yet possible to determine the timing of the production restart or the pace of ramp-up. In 2025, Garpenberg's zinc concentrate production was 101,700 mt in metal content.

6 hours ago

Typhoon Disrupts Australian Zinc Concentrate Supply, Spot TC Quotations Fall to Negative Levels

[Imported Zinc Concentrate Market] Recently, typhoon weather in Australia has continued to disrupt zinc concentrate transportation, and expectations of tight imported zinc concentrates are expected to persist. Traders in the market have continued to lower TC quotations, and currently quotations for zinc-rich concentrates on spot cargo vessels have fallen to negative levels.

6 hours ago

Jan-Feb Die-Casting Zinc Alloy Exports Up Slightly YoY, Backed by Southeast Asia

According to the latest customs data, China’s total exports of die-casting zinc alloy from January to February reached 689.33 mt, up slightly by 0.9 percentage points YoY on a cumulative basis; imports, however, totaled 48.11 million mt, down 35.46 percentage points YoY on a cumulative basis. Overall, China’s die-casting zinc alloy trade from January to February showed a pattern of slightly higher exports and a significant pullback in imports.

6 hours ago