The spot zinc cargo circulating in the market was limited, and the premium remained high. [SMM Tianjin Zinc Spot Weekly Review]

SMM April 18 News: Tianjin: Spot premiums in the Tianjin region continued to rise this week, up by around 80 yuan/mt WoW. As of this Friday, domestic common brands were quoted at a premium of 300-500 yuan/mt against the 2505 contract, while premium brands were quoted at a premium of 500-530 yuan/mt against the 2505 contract. The premium of Tianjin over Shanghai was around 120 yuan/mt, and the price spread between Shanghai and Tianjin widened. Zinc prices dropped back slightly during the week, but downstream buyers remained bearish, coupled with previous restocking, downstream mainly focused on restocking for rigid demand or destocking. Due to previous point pricing, downstream buyers gradually picked up goods, resulting in limited spot cargo circulation in the market. Tianjin zinc ingot inventory saw significant destocking, and traders stood firm on quotes, keeping premiums high. Overall trading this week was moderate. It is expected that spot cargo may gradually increase next week, and premiums may pull back. 》Order to view SMM metal spot historical prices