SMM September 25 News: Spot premiums in the Tianjin area rose slightly this week, up about 20 yuan/mt WoW. As of Friday, domestic common brands were quoted at a discount of 0–30 yuan/mt against the 2510 contract, while premium brands were quoted at a premium of about 40 yuan/mt against the 2510 contract. Tianjin prices were near parity with Shanghai prices. Zinc prices continued to pull back this week to levels more acceptable to downstream users, leading to increased spot purchasing and cargo pick-ups. Most downstream users took the opportunity to stockpile before the National Day holiday. Overall inventory in Tianjin declined, and as prices were too low, some smelters showed reluctance to sell, reducing market supply. Traders raised their selling premiums slightly. Downstream stockpiling is largely complete, and premiums are expected to hold steady with a slight increase going forward.
