Spot Premiums for Zinc in Tianjin Went Up

Spot premiums went up last week. As of last Thursday, the premiums stood at 20-50 yuan/mt for regular brands over SHFE 2305 contract, and 70-110 yuan/mt for high-priced Zijin zinc.

Discounts of zinc in Tianjin stood at 70 yuan/mt against Shanghai prices.

Downstream companies bought on the dip as Labour Day holidays approached. However, in the second half of the week, with the gradual completion of downstream stockpiling and big volatility in zinc prices, the market purchases were more cautious, preventing spot premiums from rising. Spot quotes will move rangebound after Labour Day holidays this week.