Zinc premiums weakened as sellers in Tianjin sold off goods

SHANGHAI, Oct 10 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 21790~22070 yuan/mt, Zijin zinc 21810~22130 yuan/mt, and Huludao zinc 26660 yuan/mt. In terms of premium/discount, #0 zinc was quoted with premiums of 450~510 yuan/mt over SHFE 2311 contract, Zijin zinc 470~570 yuan/mt, and 80 yuan/mt over Shanghai prices.

As of noon of October 10, spot premiums of ordinary brand Chihong stood at 460~510 yuan/mt over SHFE 2311 zinc contract, Hongye 450 yuan/mt, Kazakhstan zinc 350 yuan/mt (delivery in warehouse), and high-priced brand Zijin 470~570 yuan/mt. The market fell today, but the market supply has increased significantly compared with the previous period, and sellers were selling off goods in the market. Prices of 1# zinc ingot were around 21660~21910 yuan/mt.