Zinc Prices Consolidate at Highs, Traders Dominate Trading [SMM Tianjin Spot Zinc Weekly Review]

SMM, August 14: Spot premiums in Tianjin edged up 10 yuan/mt WoW this week. As of this Friday, ordinary domestic brands were quoted at discounts of around 60-110 yuan/mt against the 2609 contract, higher-priced brands at premiums of around 10-20 yuan/mt against the 2609 contract, and Tianjin at a discount of around 65 yuan/mt against Shanghai. Zinc prices continued to consolidate at highs this week. Downstream buyers were cautious about buying at high prices, with limited inquiries, mainly consuming inventory or relying on long-term contracts, and sentiment for post-pricing was subdued. Meanwhile, the open export window drove destocking in Tianjin. Trading was dominated by traders, and shipment premiums edged up slightly. However, consumption in Tianjin remained relatively sluggish, and premiums are expected to remain weak next week.