Zinc Prices Decline, Premiums Surge [SMM Tianjin Zinc Spot Weekly Review]

Published: Sep 18, 2026 11:25

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[Zinc Prices Fall, Spot Premiums Surge]: This week, spot premiums in the Tianjin region rose notably, up 50 yuan/mt WoW. As of Friday this week, domestic standard brands were quoted at a discount of 0-90 yuan/mt against the 2610 contract, high-end brands at a premium of 100 yuan/mt against the 2609 contract, and Tianjin cargoes at a discount of 65 yuan/mt against Shanghai cargoes, with the Shanghai-Tianjin price spread widening.

SMM, September 18: Spot premiums in Tianjin rose significantly this week, up 50 yuan/mt WoW. As of Friday this week, mainstream domestic brands were quoted at a discount of 0-90 yuan/mt against the 2610 contract, while premium brands were quoted at a premium of 100 yuan/mt against the 2609 contract. Tianjin was quoted at a discount of 65 yuan/mt against Shanghai, with the Shanghai-Tianjin price spread widening. Zinc prices pulled back sharply this week to levels more acceptable to downstream buyers. Combined with stockpiling demand ahead of the Mid-Autumn Festival and National Day holidays, downstream buyers actively placed orders and made purchases, prompting traders to raise their quotes accordingly. Overall market transactions improved notably, and spot premiums rose significantly. Premiums are expected to continue rising next week.

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