Premiums continue to decline amid weak downstream consumption [SMM Weekly Review of Spot Zinc in Tianjin]

SMM News on June 20: This week, spot premiums in the Tianjin region continued to decline, falling by approximately 65 yuan/mt WoW. As of Friday this week, domestic ordinary brands were quoted at premiums of around 60-150 yuan/mt against the 2507 contract, while high-priced brands were quoted at premiums of 150-160 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around 10 yuan/mt against the Shanghai market. This week, zinc prices mainly fluctuated. Affected by the off-season and the rainy season, consumption was weak, and downstream procurement enthusiasm was low, with restocking mainly for immediate needs. There was a large amount of spot zinc in Tianjin, and traders continuously lowered their quotes to facilitate sales, with trading being the main activity among traders. It is expected that spot premiums may continue to decline next week.

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