Tianjin premiums continue to rise [SMM Tianjin Zinc Spot Weekly Review]

Published: Jun 26, 2026 15:30

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[Premiums in Tianjin Continue to Rise]: Spot premiums in Tianjin rose this week, up by 10 yuan/mt WoW. As of Friday, domestic ordinary brands quoted a discount of around 30-60 yuan/mt against the 2607 contract, while high-end brands quoted around parity against the 2607 contract. The Tianjin market quoted a discount of around 45 yuan/mt against the Shanghai market.

SMM, June 26 – Spot premiums in Tianjin rose this week, up 10 yuan/mt WoW. As of Friday, mainstream domestic brands reported a discount of around 30-60 yuan/mt against the 2607 contract, high-end brands reported parity against the 2607 contract, and the Tianjin market reported a discount of around 45 yuan/mt against Shanghai. This week, zinc prices pulled back to levels more acceptable to downstream, leading to heavy priced restocking downstream. However, cargo pick-up was slow, resulting in an inventory buildup in Tianjin. Overall transactions improved WoW, and traders kept raising premiums on their selling. Premiums are expected to remain stable next week.

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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