Downstream Operations Are Still Resuming, Market Transactions Improved Compared with Last Week [SMM Tianjin Spot Zinc Weekly Review]

Published: Mar 6, 2026 15:40

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[Downstream Operations Were Still Resuming, and Market Trading Was Better Than Last Week]: Spot premiums in Tianjin rose slightly this week, up 20 yuan/mt WoW. As of this Friday, mainstream domestic brands were quoted at discounts of around 20-100 yuan/mt against the 2604 contract, while high-priced brands were quoted at discounts of around 20-50 yuan/mt against the 2604 contract. Tianjin was quoted at a discount of around 10 yuan/mt against Shanghai, the Shanghai-Tianjin price spread narrowed, and contract rollover quotes were offered this week.

SMM News, March 6: This week, spot premiums in Tianjin rose slightly, up 20 yuan/mt WoW. As of this Friday, mainstream domestic brands were quoted at discounts of around 20-100 yuan/mt against the 2604 contract, while high-priced brands were quoted at discounts of around 20-50 yuan/mt against the 2604 contract. Tianjin was quoted at discounts of around 10 yuan/mt against Shanghai. The Shanghai-Tianjin price spread narrowed, and quotes were for contract rollover this week. Zinc prices were mainly rangebound this week and dropped back slightly toward the end of the week. Downstream players were still resuming operations gradually, end-use consumption recovered slowly, and downstream buyers restocked on dips. Market transactions improved WoW, and premiums rebounded slightly. It is expected that downstream operating rates will basically return to normal next week, and premiums may rise slightly.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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