Demand Weakens, Premiums in Tianjin Decline [SMM Tianjin Spot Weekly Review]

SMM January 10 News: This week, spot premiums in the Tianjin region declined steadily, down 60 yuan/mt WoW from the weekly average price. As of this Friday, domestic common brands recorded spot premiums of 450–510 yuan/mt against the 2502 contract, while high-end brands posted premiums of 460–550 yuan/mt against the 2502 contract. The Tianjin market showed a discount of around 100 yuan/mt against the Shanghai market. Zinc prices primarily fluctuated downward this week, with downstream sectors gradually entering the holiday season and demand pulling back significantly. Downstream purchasing enthusiasm weakened, spot zinc in Tianjin remained relatively ample, and traders rushed to sell before year-end, leading to a reduction in premiums. Additionally, the price spread between Shanghai and Tianjin widened, resulting in cross-regional transfers of zinc ingots. It is expected that as downstream sectors continue to take holidays and demand weakens, premiums may further decline next week.

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