There Will Still Be Pressure On Spot Zinc Premiums In Tianjin

Last week, premiums hovered rangebound after a slight rise. As of last Friday, the premiums stood at 100-130 yuan/mt for regular brands over SHFE 2306 contract, 170-180 yuan/mt for high-priced Zijin zinc. Discounts of zinc prices in Tianjin were 90 yuan/mt against Shanghai prices.

Zinc prices fell rapidly during the week, which led to more active market transactions. This, combined with the reduction of goods in the hands of traders led to a slight increase in spot premiums. But transactions weakened later in the week. It is expected that this week, there will still be pressure on Tianjin's premiums.

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