Spot Cargo Decreased While Premiums in Tianjin Rose [SMM Tianjin Zinc Spot Weekly Review]

SMM March 7 News: This week, spot premiums in Tianjin slightly rebounded, up 10 yuan/mt WoW based on the weekly average price. As of this Friday, domestic common brands were quoted at a discount of 30 yuan/mt to a premium of 40 yuan/mt against the 2503 contract, while high-end brands were quoted at a premium of 40-50 yuan/mt against the 2503 contract. The Tianjin market was on par with the Shanghai market. Zinc prices rose steadily throughout the week. At the beginning of the week, zinc prices were relatively low, prompting downstream buyers to increase purchases due to concerns over future price trends. Coupled with strong sales by traders last week, spot availability in the market decreased, leading to a decline in Tianjin's social inventory. Traders stood firm on quotes, pushing premiums higher. Later, zinc prices continued to rise, supported by the easing of tariffs and favorable policies from the Two Sessions. However, downstream buyers became cautious due to high prices, focusing on restocking only to meet rigid demand. Traders faced difficulties in sales and subsequently lowered premiums to facilitate transactions. Overall, premiums saw a slight increase. Premiums are expected to decline further next week.

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