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Futures Market Continues to Pull Back, Premiums in Tianjin Rise [SMM Tianjin Spot Weekly Review]
Feb 28, 2025, at 7:42 am
[Futures Market Continued to Pull Back, Premiums in Tianjin Rose]: This week, spot premiums in Tianjin slightly rebounded, up 10 yuan/mt WoW from the weekly average price. As of this Friday, domestic common brands reported spot premiums of 0-40 yuan/mt against the 2503 contract, while high-end brands reported spot premiums of 50-80 yuan/mt against the 2503 contract. Premiums in Tianjin were on par with those in Shanghai.
SMM, February 28: This week, spot premiums in the Tianjin region rebounded slightly, up 10 yuan/mt WoW from the weekly average price. As of this Friday, spot premiums for domestic common brands against the 2503 contract were reported at 0–40 yuan/mt, while high-end brands were quoted at 50–80 yuan/mt against the 2503 contract, with Tianjin prices on par with Shanghai. Zinc prices declined throughout the week to levels more acceptable to downstream buyers, leading to increased downstream purchases at lower prices. Coupled with a slight recovery in consumption, downstream purchasing enthusiasm was high. Tianjin's social inventory decreased, coinciding with the execution of zinc long-term contracts. Traders actively restocked, and trading among traders was relatively active, with a slight tendency to stand firm on quotes, pushing premiums up slightly. Spot premiums are expected to continue rising next week.
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