Premiums in Tianjin rebound slightly [SMM Weekly Spot Zinc Review in Tianjin]

SMM News on July 11: This week, spot premiums in the Tianjin region rose slightly, increasing by approximately 25 yuan/mt WoW. As of Friday this week, domestic common brands were quoted at a discount of 10 yuan/mt to a premium of 10 yuan/mt against the 2508 contract, while high-priced brands were quoted at a premium of 30-40 yuan/mt against the 2508 contract. The Tianjin market was quoted at a discount of approximately 50 yuan/mt against the Shanghai market, with the price spread between Shanghai and Tianjin narrowing. At the beginning of this week, zinc prices pulled back to a level more acceptable to downstream buyers, who took advantage of the low prices to restock and increase spot purchases. As a result, zinc ingot inventory in Tianjin decreased slightly. Subsequently, zinc prices rose continuously, leading to lower purchasing enthusiasm among downstream buyers. Some enterprises mainly restocked based on their immediate needs, while traders first raised premiums and then continuously lowered them due to poor sales. Trading among traders dominated the market. It is expected that spot premiums may stabilize next week.

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