Premiums continue to decline, with average market transactions [SMM Tianjin Spot Zinc Weekly Review]

SMM May 23 News: This week, spot premiums in the Tianjin region continued to decline, falling by approximately 85 yuan/mt WoW. As of Friday this week, domestic common brands were quoted at premiums of 200-230 yuan/mt against the 2506 contract, while high-priced brands were quoted at premiums of 250-280 yuan/mt against the 2506 contract. The Tianjin market was at a discount of around 10 yuan/mt against the Shanghai market. Zinc prices fluctuated rangebound during the week, with downstream consumption continuing to weaken. Downstream procurement enthusiasm remained low, with restocking mainly driven by immediate needs and small-scale restocking at lower prices. Traders continuously lowered premiums and discounts to facilitate sales, leading to a decline in premiums. Trading activity among traders was brisk, but overall transactions this week were sluggish. It is expected that premiums may continue to decline next week.

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