Tianjin Zinc: Today, Contract Rollover Quotes Were Reported, and Premiums Remained Steady [SMM Midday Review]

SMM July 30: In the Tianjin market, #0 zinc ingot was mainly traded at 24,570-24,770 yuan/mt, Zijin traded at 24,680-24,830 yuan/mt, #1 zinc ingot was traded at around 24,540-24,640 yuan/mt, Zijin was reported at a discount of 0-10 yuan/mt against the 2600 contract, Huzinc was reported at 26,045 yuan/mt, #0 zinc ingot against the 2609 contract was at a discount of 60-120 yuan/mt, the Tianjin market was at a discount of 100 yuan/mt against the Shanghai market, and today saw contract rollover quotations. As of the morning close, the high-end brand Zijin was at a discount of 0-10 yuan/mt against the 2609 contract, Huoshaoyun reported at a discount of 80 yuan/mt against the 2609 contract, and today’s buying sentiment for refined zinc in Tianjin was 1.90, while selling sentiment was 2.43. Futures continued to consolidate at highs, downstream consumers were fearful of high prices and cautious in purchasing, with rigid demand dominating; coupled with major smelters starting to deliver long-term contract shipments, the market was overwhelmed by a wait-and-see sentiment, and traders’ selling premiums remained largely stable. Overall trading was moderate today.