What is Shimano Premium Grease used for?

Shimano Premium Grease - 50g is the grease Shimano specifies by name in its own dealer manuals for hub bearings, cones, and seal rings on XTR, Deore XT, and SLX hubs. It is also the grease Shimano calls out for packing a hub shell before pressing new bearings and for the plate axle on GRX and other Shadow RD+ rear derailleurs. If you service Shimano cup and cone hubs, this is the tub the manual is pointing at.

The 50g tub is the right size for a home mechanic or a shop bench that goes through a few hub overhauls a season. It is made in Germany and sold as a Shimano genuine part, so it matches what the hub was built with at the factory. One thing worth knowing before you buy: this is not the same product as Shimano Seal Grease for Freehub, which Shimano specifies separately for the freehub body seals. Premium Grease goes in the bearings and on the cones. Keep both on the bench and use each where the manual says.