Freight rates rise, premiums follow suit [SMM Tianjin Zinc Spot Weekly Review]

Published: Sep 24, 2026 16:04 (GMT+8)

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[Higher freight costs drive premiums up]: Spot premiums in Tianjin rose significantly this week, up 25 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 around 100 yuan/mt against the 2609 contract. Tianjin was quoted at a discount of around 55 yuan/mt against Shanghai.

SMM, September 24: Spot premiums in the Tianjin region rose notably this week, up by 25 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, high-end brands were quoted at a premium of 100 yuan/mt against the 2609 contract, and Tianjin was quoted at a discount of 55 yuan/mt against Shanghai. Zinc prices rebounded this week. Downstream buyers had largely completed pricing last week and began picking up goods this week, with limited purchasing interest. However, with the holiday approaching, fewer transport vehicles were available, oil prices rose, and freight costs increased notably. Traders raised their quotes accordingly, and spot premiums rose significantly. Spot premiums are expected to remain largely stable next week.

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