Tianjin Zinc: Tianjin Contract Rollover Quotation Premiums Remain Stable [SMM Midday Review]

SMM January 8 News: In the Tianjin market, mainstream transactions of 0# zinc ingot were at 24,650-24,870 yuan/mt, Zijin traded at 24,690-24,910 yuan/mt, and 1# zinc ingot traded around 24,040-24,250 yuan/mt. Huludao was quoted at 28,210 yuan/mt. The premium for ordinary 0# zinc against the 2501 contract was 490-510 yuan/mt, while Zijin's premium against the 2501 contract was 530-550 yuan/mt. The Tianjin market had a discount of 90 yuan/mt compared to the Shanghai market. Today, Tianjin provided contract rollover quotes. By the close of the morning session, New Zijin quoted a premium of 490-510 yuan/mt against the 02 contract, Chihong quoted 490-510 yuan/mt against the 02 contract, Xikang had no quotes for the 02 contract, and Bailing also had no quotes for the 02 contract. High-end brand Zijin quoted a premium of 530-550 yuan/mt against the 02 contract. The Tianjin spot-futures price spread was 495 yuan/mt. The futures market continued to pull back, and some enterprises were preparing for pre-holiday stockpiling. Downstream buyers were still observing the future trend of zinc prices with a bearish sentiment, leading to cautious restocking. Traders actively sold, and premiums remained relatively stable. Overall, market transactions were moderate.