Tianjin Zinc: Futures Pull Back, Downstream Still Holds Bearish Sentiment [SMM Midday Commentary]
[Tianjin Zinc: Futures Pull Back, Downstream Still Bearish] In the Tianjin market, mainstream transactions for #0 zinc ingot were at 25,710-26,030 yuan/mt, Zijin transactions at 25,870-26,100 yuan/mt, and #1 zinc ingot transactions near 26,050-26,160 yuan/mt. Zijin was quoted at a premium of 130-150 yuan/mt against the 2611 contract, while Huzinc was quoted at 27,380 yuan/mt. #0 zinc ingot was quoted at a premium of 70 yuan/mt to a discount of 30 yuan/mt against the 2611 contract. The Tianjin market was quoted at a discount of 40 yuan/mt against the Shanghai market.