Small discount in Tianjin region, weak consumption [SMM Weekly Review of Spot Zinc in Tianjin]

SMM News on June 27: This week, spot premiums in the Tianjin region plummeted, dropping by approximately 155 yuan/mt WoW. As of Friday this week, domestic common brands were quoted at a discount of 0~40 yuan/mt against the 2507 contract, while high-priced brands were quoted at a discount of 20 yuan/mt to a premium of 30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around 90 yuan/mt against the Shanghai market, with the price spread between Shanghai and Tianjin widening. This week, zinc prices continued to rise, while consumption weakened. Downstream buyers were cautious about purchasing at high prices, with low procurement enthusiasm, mainly restocking for immediate needs. Coincidentally, new long-term contracts began to be executed, with some downstream buyers waiting for the arrival of long-term contract goods. Tianjin zinc ingot inventory continued to increase, and traders continuously lowered premiums to facilitate sales, with trading dominated by traders. It is expected that spot premiums may continue to decline next week.

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