Tianjin Zinc: Futures Market Maintains Fluctuating Trend with Sluggish Trading Atmosphere [SMM Midday Review]

SMM, January 27: The mainstream transaction price of 0# zinc ingot in the Tianjin market was 23,480-23,590 yuan/mt. Today, there were few trading merchants in the market, with almost no quotations, and the Tianjin market was on par with the Shanghai market. As of the midday close, there were no quotations for Xinzi against the February contract, Chihong 1# against the February contract, Xikang against the February contract, or Baiyin against the February contract. High-priced brand Zijin also had no quotations. The Tianjin spot-futures price spread was 0 yuan/mt. The futures market fluctuated today. With the Chinese New Year break approaching, most downstream players have already gone on holiday, and spot supply in the market was relatively tight, leading to sluggish trading today.