Zinc Prices Broke Downward, with Strong Trading This Week [SMM Tianjin Spot Zinc Weekly Review]

SMM News, March 20: Spot premiums in Tianjin rose slightly this week, up 10 yuan/mt WoW. As of this Friday, ordinary domestic brands were quoted at discounts of around 20-70 yuan/mt against the 2604 contract, while high-priced brands were quoted at around discounts of 10 yuan/mt to premiums of 10 yuan/mt against the 2604 contract. Tianjin was quoted at a discount of around 10 yuan/mt against Shanghai. This week, zinc prices pulled back sharply to a level more acceptable to downstream buyers, while end-use consumption recovered and orders increased. Downstream buyers were active in making priced purchases, and traders were also relatively active in transactions. Zinc ingot inventories in Tianjin destocked, and traders slightly raised spot premiums for shipments. Spot premiums were expected to remain stable next week.