Shanghai Metal Market: Zinc prices fluctuate and rise, downstream consumption remains average

K-LinePoet · 2026-03-31T14:53:36+00:00

Today, the Shanghai Metal Market zinc price rose, with an average price of 23,330 yuan/ton. The main contract for Shanghai zinc increased by 1.18%. Market trading was dull, with difficulty in high-price transactions, and downstream consumption performed moderately. Social stockpiles declined from high levels, and holders appeared somewhat cautious.

K-LinePoet

2026-03-31 14:53:36

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Today, Shanghai Metals Market spot 0#锌23350-23450元/吨，均价23400元/吨，较上一交易日上涨210元/吨，对沪锌2604合约报贴水130-贴水30元/吨；1#23280-23380 yuan/ton, average price 23330 yuan/ton, up 210 yuan/ton from the previous trading day. The SHFE zinc 2604 contract is quoted at a discount of 200 to a discount of 100 yuan/ton. This morning, zinc continued to consolidate and rise. As of the midday close, the main SHFE zinc contract closed up 275 yuan/ton, a gain of 1.18%. Today’s spot market trading was fairly flat; the zinc price’s key level moved higher. Social inventories at a high level fell back, and combined with next week’s holiday factor, holders showed slightly stronger interest in price than the copper market. However, downstream actual consumption remained lackluster, and deals at higher prices were difficult. At the start of trading, holders quoted around +45 versus the online average price; during the session, it was also heard that +30 had some成交. Domestic tracked pricing was around -75. (SHMET)

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