Tianjin Zinc Ingot Premiums Continued to Rise with Weak Market Trading [SMM Tianjin Spot Zinc Weekly Review]

Published: May 15, 2026 13:23

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[Tianjin Zinc Ingot Spot Premiums Continued to Rise, Market Trading Remained Weak]: Spot premiums in the Tianjin area rose this week, up 20 yuan/mt WoW. As of this Friday, China's common brands were quoted at a discount of 60-80 yuan/mt against the 2606 contract, premium brands were quoted at a discount of 10-50 yuan/mt against the 2606 contract, and Tianjin was quoted at a discount of 70 yuan/mt against Shanghai.

SMM May 15: Spot premiums in Tianjin rose this week, up 20 yuan/mt WoW. As of this Friday, ordinary brands were quoted at a discount of 60-80 yuan/mt against the 2606 contract, premium brands at a discount of 10-50 yuan/mt against the 2606 contract, and Tianjin at a discount of 70 yuan/mt against Shanghai. Zinc prices surged significantly this week, with downstream buyers mostly adopting a wait-and-see approach. Combined with lackluster downstream consumption, overall purchase willingness remained low, dominated by long-term contracts. Zinc ingot inventories in Tianjin continued to build up, while trader shipments decreased due to invoice-related issues. Trader quoted premiums edged up slightly, and spot premiums are expected to continue to edge up next week.

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