Tianjin Zinc: Zinc prices remain high, market transactions are poor [SMM Midday Commentary]

SMM, September 7: In the Tianjin market, #0 zinc ingot was mainly traded at 26,780-27,220 yuan/mt, Zijin was traded at 26,980-27,360 yuan/mt, #1 zinc ingot was traded near 26,780-27,130 yuan/mt, Zijin was quoted at a premium of 80-120 yuan/mt against the 2610 contract, Huxin was quoted at 28,360 yuan/mt, #0 zinc ingot was quoted at a discount of 20-140 yuan/mt against the 2610 contract, and the Tianjin market was quoted at a discount of 50 yuan/mt against the Shanghai market. As of the midday close, the high-priced brand Zijin was at a premium of 80-120 yuan/mt against the 2610 contract, and Xinzi was quoted at a discount of around 20 yuan/mt against the 2610 contract. Today, the purchasing sentiment for refined zinc in the Tianjin region was 1.61, and the selling sentiment was 2.44. With futures remaining at high levels, most downstream buyers were still waiting for suitable price points. Inquiries were limited today, traders held shipment premiums steady, and overall market trading was relatively weak today.