SMM reported on July 4: This week, spot premiums in the Tianjin region continued to decline to a discount status, dropping by approximately 60 yuan/mt WoW. As of Friday this week, domestic common brands were quoted at a discount of 0~30 yuan/mt against the 2507 contract, while high-priced brands were quoted at a premium of 10~30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of approximately 70 yuan/mt against the Shanghai market, with the price spread between Shanghai and Tianjin narrowing. This week, zinc prices continued to rise, while consumption weakened. Downstream buyers were cautious about purchasing due to high prices. Coincidentally, there was heavy rain in Tianjin, and some enterprises in low-lying areas were affected by waterlogging, impacting production and resulting in low purchasing enthusiasm. Some enterprises focused on restocking based on immediate needs, while downstream buyers awaited the arrival of long-term contracts. Tianjin zinc ingot inventory continued to increase, and traders continuously lowered premiums to facilitate sales, with trading being the main focus for traders. It is expected that premiums may stabilize next week.
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