SMM August 8 news: Spot premiums in Tianjin edged up WoW, rising around 35 yuan/mt. As of Friday, domestic common brands were quoted at discounts of 0-40 yuan/mt against the 2509 contract, while premium brands traded near parity. The Tianjin-Shanghai price spread narrowed to around 10 yuan/mt. Zinc prices plunged at the start of the week, triggering restocking sentiment among downstream users. Some buyers feared further price hikes and showed stockpiling interest, leading to destocking of zinc ingot inventories in Tianjin. Traders' selling premiums rose significantly initially but moderated later as zinc prices rebounded and downstream purchases shifted to just-in-time restocking. Premiums are expected to maintain a fluctuating trend next week.
