Zinc Prices Mainly Fluctuated, with Traders Slightly Holding Prices Firm [SMM Tianjin Zinc Spot Weekly Review]

Published: Nov 28, 2025 16:09

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[Zinc Prices Fluctuated, with Traders Holding Prices Slightly Firmer]: Spot premiums in the Tianjin area continued to rise this week, up about 10 yuan/mt WoW. As of Friday, domestic common brands were quoted at a premium of 0–50 yuan/mt against the 2512 contract, while premium brands were quoted at a premium of 150–180 yuan/mt against the 2512 contract. The Tianjin market was quoted at a discount of about 60 yuan/mt against the Shanghai market, with the Shanghai-Tianjin price spread widening.

SMM November 28 News: Spot premiums in the Tianjin area continued to rise this week, up about 10 yuan/mt WoW. As of Friday, domestic common brands were quoted at premiums of around 0-50 yuan/mt against the 2512 contract, while premium brands were quoted at premiums of around 150-180 yuan/mt against the 2512 contract. The Tianjin market was quoted at a discount of about 60 yuan/mt against the Shanghai market, with the Shanghai-Tianjin price spread widening. Zinc prices fluctuated considerably this week, failing to reach downstream psychological price levels, leading downstream buyers to adopt a wait-and-see stance and restock based on rigid demand. Additionally, as many had previously locked in prices at lower levels, downstream buyers picked up goods gradually. Arrivals of zinc ingots in Tianjin were normal, and social inventory in Tianjin increased slightly. Traders maintained stable selling prices. Overall, premiums rose. With the contract rollover expected next week, premiums may continue to increase.

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