Spot premiums in Tianjin edged down last week. As of last Friday, the premiums stood at 140-170 yuan/mt for regular brands over SHFE 2307 contract, 170-190 yuan/mt for high-priced Zijin zinc. Discounts of zinc prices in Tianjin narrowed to 60 yuan/mt against Shanghai prices.
During the week, the strong zinc prices depressed downstream buying interest and the overall trading was subdued, weighing on spot quotes. Downstream restocking for the weekend boosted trades slightly. This week, downstream buyers are expected to restock for the Chinese Dragon Boat Festival holidays, and this will improved trades.
