Zinc Prices Fluctuate at Highs, Shanghai-Tianjin Price Spread Widens [SMM Tianjin Spot Zinc Weekly Review]

Published: Apr 3, 2026 15:25

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[Zinc Prices Fluctuated at Highs, Shanghai-Tianjin Price Spread Widened]: Spot premiums in Tianjin rose slightly this week, up 10 yuan/mt WoW. As of this Friday, in China, mainstream brands were quoted at discounts of around 80-120 yuan/mt against the 2605 contract, high-priced brands at discounts of around 60-90 yuan/mt against the 2605 contract, and Tianjin was quoted at a discount of around 50 yuan/mt against Shanghai, with the Shanghai-Tianjin price spread widening.

SMM News, April 3: Spot premiums in Tianjin rose slightly this week, up 10 yuan/mt WoW. As of this Friday, discounts of around 80-120 yuan/mt were quoted by mainstream domestic brands against the 2605 contract, while high-priced brands were quoted at discounts of around 60-90 yuan/mt against the 2605 contract. Tianjin was quoted at a discount of around 50 yuan/mt against Shanghai, and the Shanghai-Tianjin price spread widened. Zinc prices fluctuated at highs this week, with limited downstream pricing activity. Zinc ingot booked at fixed prices earlier arrived successively, and zinc ingot arrivals in Tianjin also increased steadily. Overall market transactions were weak, while traders were relatively active in trading, and spot premiums for trader shipments remained firm. Premiums are expected to edge down slightly next week as arrivals in Tianjin continue to increase.

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