Tianjin Zinc: Zinc Prices Continue to Surge, Market Trading Inactive [SMM Midday Review]

SMM August 27 News: The #0 zinc ingot mainstream transaction prices in the Tianjin market ranged from 26,280-26,640 yuan/mt, with Zijin traded at 26,460-26,740 yuan/mt, and #1 zinc ingot was traded at around 26,280-26,570 yuan/mt. Zijin was quoted as a premium of around 60 yuan/mt against the 2609 contract, Huxin was quoted at 27,840 yuan/mt, #0 zinc ingot was quoted as a discount of around 40-120 yuan/mt against the 2609 contract, and the Tianjin market quoted a discount of around 50 yuan/mt against the Shanghai market. As of the noon market close, the high-end brand Zijin had a premium of around 60 yuan/mt against the 2609 contract, while Xinzi was quoted as a discount of 70 yuan/mt against the 2609 contract. Today, the refined zinc purchasing sentiment in the Tianjin region was 1.67, and the selling sentiment was 2.35. The futures continued to rise to a multi-month high, with downstream buyers showing no inquiries, mainly consuming inventory, or engaging in backward pricing. Traders were not active in selling, with premiums holding steady, resulting in poor overall market transactions on the day.