Tianjin Premiums Rise on Contract Rollover [SMM Tianjin Spot Zinc Weekly Review]

Published: Jul 3, 2026 16:58

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[Tianjin Premiums Rise on Contract Rollover]: Spot premiums in Tianjin rose this week, up 10 yuan/mt WoW. As of this Friday, mainstream Chinese brands were reported at a discount of 30-100 yuan/mt against the 2608 contract, high-end brands were at discounts near flat, and Tianjin market was at a discount of about 35 yuan/mt against Shanghai.

SMM, July 3: This week, spot premiums in Tianjin rose, up 10 yuan/mt WoW. As of Friday, domestic mainstream brands were quoted at discounts of 30-100 yuan/mt against the 2608 contract, high-grade brands were quoted near the discount against the 2608 contract, and Tianjin cargo was quoted at a discount of around 35 yuan/mt against Shanghai cargo. This week, the zinc price center edged up WoW. Last week, downstream users heavily fixed prices to restock, while this week they mainly stayed on the sidelines and picked up goods slowly. Moreover, large smelters started deliveries under long-term contracts. Overall consumption was moderate. Amid the contract rollover this week, under the contango structure, traders slightly raised spot premiums to sell. Spot premiums are expected to remain stable next week.

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