Tianjin Zinc Ingot Spot Premiums in the Doldrums in May, Surplus Pattern Unlikely to Change in June [SMM Analysis]

As May draws to a close, the Tianjin zinc ingot market exhibited operational characteristics of “stable supply, constrained consumption, and elevated inventory.” Entering June, the market widely expects the oversupply to be difficult to reverse, with evident signs of weakening downstream consumption. Premiums are expected to remain in the doldrums going forward.