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

Published: May 15, 2026 13:23
[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.

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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Tianjin Zinc Ingot Premiums Continued to Rise with Weak Market Trading [SMM Tianjin Spot Zinc Weekly Review] - Shanghai Metals Market (SMM)