Tianjin Zinc: Futures Edge Up, Premiums in Tianjin Remain Stable [SMM Midday Commentary]

Published: Oct 19, 2026 11:25 (GMT+8)

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[Tianjin Zinc: Futures Edge Up, Premiums in Tianjin Hold Steady] In the Tianjin market, #0 zinc ingot was mainly traded at 25,530-25,740 yuan/mt, Zijin was traded at 25,630-25,830 yuan/mt, #1 zinc ingot was traded near 25,410-25,570 yuan/mt, Zijin was quoted at a premium of 100-150 yuan/mt against the 2611 contract, Huxin was quoted at 27,055 yuan/mt, #0 zinc ingot was quoted at a premium of 0-60 yuan/mt against the 2611 contract, and the Tianjin market was quoted at a discount of 25 yuan/mt against the Shanghai market.

SMM, October 19: In the Tianjin market, mainstream transactions for #0 zinc ingot were at 25,530-25,740 yuan/mt, Zijin transactions were at 25,630-25,830 yuan/mt, and #1 zinc ingot transactions were around 25,410-25,570 yuan/mt. Zijin was quoted at a premium of 100-150 yuan/mt against the 2611 contract, while Huzinc was quoted at 27,055 yuan/mt. #0 zinc ingot was quoted at a premium of 0-60 yuan/mt against the 2611 contract, and the Tianjin market was quoted at a discount of 25 yuan/mt against the Shanghai market. As of the midday close, the high-priced brand Zijin was at a premium of around 100-150 yuan/mt against the 2611 contract. In the Tianjin region, refined zinc purchase sentiment was 1.95, and shipment sentiment was 2.42. Futures rebounded slightly, and downstream buyers, having purchased more earlier, were mostly on the sidelines today. Traders kept shipment premiums stable, and overall market transactions were moderate.

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