Tianjin Zinc: Demand Remains Weak, Market Transactions Remain Light[SMM Midday Review]

Published: Jul 24, 2026 11:32

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[Tianjin Zinc: Demand Remains Weak, Market Transactions Thin] In Tianjin market, mainstream #0 zinc ingot traded at 24,520–24,660 yuan/mt, Zijin traded at 24,650–24,740 yuan/mt, #1 zinc ingot traded near 24,520–24,600 yuan/mt; Zijin reported a premium of 10–30 yuan/mt against the 2608 contract, Huzinc at 25,975 yuan/mt, #0 zinc ingot reported a discount of 50–120 yuan/mt against the 2608 contract, and Tianjin market reported a discount of 90 yuan/mt against Shanghai market.

SMM July 24 News: In the Tianjin market, #0 zinc ingot was mainly traded at 24,520-24,660 yuan/mt, Zijin traded at 24,650-24,740 yuan/mt, #1 zinc ingot traded near 24,520-24,600 yuan/mt. Zijin was offered at a premium near 10-30 yuan/mt against the 2608 contract, Huxin was quoted at 25,975 yuan/mt, #0 zinc ingot was offered at a discount near 50-120 yuan/mt against the 2608 contract, and the Tianjin market was quoted at a discount near 90 yuan/mt against the Shanghai market. As of the midday close, the high-end brand Zijin was offered at a premium of around 10-30 yuan/mt against the 2608 contract, Huoshaoyun was offered at a discount of 100 yuan/mt against the 2608 contract, delivered. Today, the refined zinc purchasing sentiment in Tianjin was 1.93, and the shipment sentiment was 2.54. Today, futures pulled back slightly, but end-use consumption remained poor. Futures did not reach the downstream psychological price level, purchasing enthusiasm was low, and traders' shipment premiums were largely stable. Overall market transactions were moderate today.

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