Different delivery places and different grades of contract subject matter have caused price differences. Just like the quotations of Texas crude oil in the United States and Brent crude oil in the North Sea in the United Kingdom are different, they are actually similar.

As mentioned above, different delivery places, different grades of goods and various factors related to market demand have caused different market valuations of the same commodity. Whether it is a big zinc producer or not is not necessarily related to the price level, but is determined by the market demand.

As for cross-market arbitrage, of course, some people do it, but it is generally done by institutions. If you do it personally, you need to have a lot of foreign exchange.