Concentrated Arrivals in Tianjin Drove Premiums Down [SMM Tianjin Spot Zinc Weekly Review]

Published: Apr 10, 2026 13:35

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[Concentrated Arrivals in Tianjin, Premiums Declining]: Spot premiums in Tianjin edged down this week, down 10 yuan/mt WoW. As of this Friday, domestic ordinary brands were quoted at a discount of around 90–130 yuan/mt against the 2605 contract, premium brands at a discount of around 70–90 yuan/mt against the 2605 contract, and Tianjin at a discount of around 50 yuan/mt against Shanghai.

SMM April 10: Spot premiums in Tianjin edged down this week, declining 10 yuan/mt WoW. As of this Friday, ordinary brands were quoted at discounts of 90-130 yuan/mt against the 2605 contract, premium brands at discounts of 70-90 yuan/mt against the 2605 contract, and Tianjin at a discount of 50 yuan/mt against Shanghai. Zinc prices fluctuated at highs this week, with limited downstream pricing activity. Long-term contract deliveries arrived successively, and downstream purchase willingness remained low. Zinc ingots continued to arrive in Tianjin, keeping Tianjin zinc ingot inventory at high levels. Overall market transactions were tepid, dominated by inter-trader trading. Traders lowered spot premiums to facilitate shipments, and premiums are expected to remain stable next week.

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