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Home / Metal News / What Expands Zinc Price Spread Remarkably between Shanghai and Tianjin? SMM Reports

What Expands Zinc Price Spread Remarkably between Shanghai and Tianjin? SMM Reports

Jul 20, 2017 18:27

Source:SMM

Premiums on #0 zinc in Tianjin expanded from 50 to 200 yuan per tonne over Shanghai prices July 20, SMM noted. The price spread on Zijin #0 zinc between the two regions widened to 250 yuan per tonne.

SHANGHAI, Jun. 20 (SMM) – Premiums on #0 zinc in Tianjin expanded from 50 to 200 yuan per tonne over Shanghai prices July 20, SMM noted. The price spread on Zijin #0 zinc between the two regions widened to 250 yuan per tonne.

Why the price spread between the two regions expand so sharply?

Zinc supplies in Tianjin decreased, while those in Shanghai were stable, SMM explained. Some smelters have yet to totally recover from maintenance in July. Some others undertook maintenance in July. Consequently, goods available were limited. Zinc inventories in Tianjin were low around 15,000 tonnes. In this scenario, cargo holders hiked their quotes. But inflows of imported zinc in Shanghai weighed down spot premiums. Zinc inventories in Shanghai grew from 61,500 tonnes in early July to 76,900 tonnes last Friday.

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Meanwhile, robust consumption also bolstered spot zinc prices in Tianjin.

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The price spread between the two regions will expand to 300 yuan per tonne, SMM predicts.

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.

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For queries, please contact William Gu at williamgu@smm.cn

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