Tianjin area premiums rebound [SMM Tianjin Zinc Spot Weekly Review]

Published: Jul 24, 2026 13:45

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[Premiums in Tianjin Rebound]: Spot premiums in Tianjin rose this week, up 20 yuan/mt WoW. As of Friday, China’s common brands quoted discounts of around 50-120 yuan/mt against the 2608 contract, while high-end brands quoted premiums of around 10-30 yuan/mt against the 2608 contract. The Tianjin market quoted a discount of around 90 yuan/mt against the Shanghai market, with the Shanghai-Tianjin price spread widening.

SMM, July 24: This week, spot premiums in Tianjin rose, up 20 yuan/mt WoW. As of this Friday, ordinary domestic brands quoted a discount of 50–120 yuan/mt against the 2608 contract, while high-end brands quoted a premium of 10–30 yuan/mt against the 2608 contract. The Tianjin market quoted a discount of 90 yuan/mt against Shanghai, and the Shanghai-Tianjin price spread widened. Early this week, zinc prices pulled back, and combined with expectations of an open export window, traders took the opportunity to hold prices firm. However, downstream consumption remained sluggish, with strong wait-and-see sentiment and mainly destocking. Overall consumption was moderate. Toward the end of the week, spot premiums pulled back slightly. Consumption in Tianjin remained subdued, and premiums are expected to pull back slightly next week.

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