Tianjin Zinc: Futures Pull Back, Premiums Stable [SMM Midday Commentary]

Published: Oct 16, 2026 11:47 (GMT+8)

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[Tianjin Zinc: Futures Pull Back, Premiums Hold Steady] In the Tianjin market, #0 zinc ingot was mainly traded at 25,360-25,680 yuan/mt, Zijin was traded at 25,470-25,790 yuan/mt, and #1 zinc ingot was traded near 25,240-25,500 yuan/mt. Zijin was quoted at a premium of 110-180 yuan/mt against the 2611 contract, Huxin was quoted at 27,055 yuan/mt, and #0 zinc ingot was quoted at a premium of 0-70 yuan/mt against the 2611 contract. The Tianjin market was quoted at a discount of 35 yuan/mt against the Shanghai market.

SMM, October 16: In the Tianjin market, #0 zinc ingot was mainly traded at 25,360-25,680 yuan/mt, Zijin was traded at 25,470-25,790 yuan/mt, and #1 zinc ingot was traded near 25,240-25,500 yuan/mt. Zijin was quoted at a premium of 110-180 yuan/mt against the 2611 contract, while Huzinc was quoted at 27,055 yuan/mt. #0 zinc ingot was quoted at a premium of 0-70 yuan/mt against the 2611 contract, and the Tianjin market was quoted at a discount of around 35 yuan/mt against the Shanghai market. As of the midday close, the high-priced brand Zijin was at a premium of around 110-180 yuan/mt against the 2611 contract. In the Tianjin region, the purchase sentiment for refined zinc was 2.02, and the shipment sentiment was 2.39. Futures continued to pull back, but downstream had purchased more earlier, so today's purchasing sentiment was moderate, mainly based on price fixing. Traders maintained stable premiums on shipments, and overall market transactions were moderate.

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