Zinc Market Outlook: Supply Recovery Supports Smelter Margins but Export Policy and Inventory Risks Persist
In the first half of 2025, mainstream market expectations centered around the pace of zinc mine supply recovery. As supply gradually resumed, zinc prices declined, with the main futures contract falling to the 22,000–23,000 yuan/ton range. As market sentiment stabilized, prices found support. In the short term, the Shanghai zinc main contract is expected to […]










