Chinese New Year Break, Weak Transactions in Tianjin Market [SMM Tianjin Zinc Spot Weekly Review]

SMM, January 24: This week, spot premiums in the Tianjin region dropped significantly due to the impact of the Chinese New Year holiday, down 320 yuan/mt WoW from the weekly average price. As of this Friday, domestic common brands were quoted on par with the 2502 contract, while high-end brands reported premiums of 150-200 yuan/mt against the 2502 contract. The Tianjin market was on par with the Shanghai market. Zinc prices fluctuated downward during the week, with most downstream enterprises already entering the Chinese New Year holiday, leading to poor operating rates and limited downstream purchases. The market continued to show weak transactions, and premiums kept declining. A small number of traders restocked before the holiday, but traders were reluctant to sell at discounts, largely maintaining stability near parity. After the holiday, premiums are expected to fluctuate downward.

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