SMM March 14 News: This week, spot premiums in the Tianjin region dropped back slightly, down 10 yuan/mt WoW based on the weekly average price. As of this Friday, domestic common brands were quoted at a discount of 40 yuan/mt to a premium of 30 yuan/mt against the 2503 contract, while high-end brands were quoted at a premium of 20-50 yuan/mt against the 2503 contract. The Tianjin market was at a discount of around 10 yuan/mt against the Shanghai market. Zinc prices rose steadily throughout the week, far exceeding downstream psychological price levels. Downstream enterprises had made significant purchases earlier at fixed prices, and this week, they restocked only to meet rigid demand. Large enterprises mainly expedited long-term contracts, with limited purchases. As a result, Tianjin's social inventory accumulated. As delivery approached, traders lowered premiums continuously to facilitate sales, leading to overall poor transactions this week. Spot premiums are expected to remain stable next week.
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