SMM reported on August 1: This week, spot premiums in the Tianjin region rose slightly, increasing by about 15 yuan/mt WoW. As of Friday this week, domestic common brands were quoted at discounts of 0~40 yuan/mt against the 2508 contract, while high-priced brands were quoted at premiums of 10~20 yuan/mt against the 2508 contract. The Tianjin market was quoted at a discount of about 30 yuan/mt against the Shanghai market, and the price spread between Shanghai and Tianjin narrowed. This week, zinc prices gradually pulled back to a relatively acceptable level for downstream consumers, leading to an increase in downstream spot purchases. However, downstream demand remained weak, and overall sales fell short of expectations. Additionally, arrivals in Tianjin decreased somewhat, leading to destocking of zinc ingot inventory in Tianjin. Traders raised premiums and discounts for sales, and trading activity among traders was also relatively high. It is expected that premiums may maintain a fluctuating trend next week.
