Tianjin Zinc: Zinc Prices Surge, Downstream Cargo Pick-up for Previously Priced Zinc Ingot [SMM Midday Review]

Published: Aug 24, 2026 11:49

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[Tianjin Zinc: Zinc Price Rallying, Downstream Pick Up Goods Against Earlier Fixed-Price Zinc Ingot] Tianjin market saw #0 zinc ingot traded mainly in the range of 25,700~25,880 yuan/mt, Zijin traded at 25,850~25,980 yuan/mt, #1 zinc ingot traded near 25,700~25,820 yuan/mt, Zijin reported a premium of 30~50 yuan/mt against the SGX 2609 contract, Hu zinc reported 27,130 yuan/mt, #0 zinc ingot reported a discount of 50~120 yuan/mt against the SGX 2609 contract, and Tianjin market reported a discount of 50 yuan/mt against Shanghai market.

SMM August 24: In the Tianjin market, #0 zinc ingot was mainly traded at 25,700-25,880 yuan/mt, Zijin traded at 25,850-25,980 yuan/mt, and #1 zinc ingot traded at around 25,700-25,820 yuan/mt. Zijin reported a premium of 30-50 yuan/mt against the 2609 contract, Hu zinc quoted at 27,130 yuan/mt, and #0 zinc ingot reported a discount of 50-120 yuan/mt against the 2609 contract. Tianjin market reported a discount of about 50 yuan/mt compared to Shanghai market. As of the noon close, high-end brand Zijin had a premium of 30-50 yuan/mt against the 2609 contract, while Xinzi reported a discount of 50-70 yuan/mt against the 2609 contract. Today, the sentiment for refined zinc procurement in Tianjin was 1.81, and the sentiment for shipments was 2.51. The futures continued to rally, and downstream players gradually picked up goods from last week's priced zinc ingots. Today, there were fewer inquiries and price fixings, and traders' premiums for shipments remained stable. Overall market transactions were average today.

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