Tianjin Zinc: Futures Market Rebound, Premiums Remain Stable [SMM Midday Review]

SMM February 18 News: In the Tianjin market, mainstream transactions of 0# zinc ingot were concluded at 23,790-23,990 yuan/mt, Zijin traded at 23,820-23,890 yuan/mt, and 1# zinc ingot traded around 23,680-23,870 yuan/mt. Huludao was quoted at 27,240 yuan/mt. Ordinary 0# zinc was quoted at a discount of 10 yuan/mt to a premium of 10 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 20-30 yuan/mt against the 2503 contract. The Tianjin market was at a discount of 10 yuan/mt compared to the Shanghai market. As of the midday close, New Zijin was quoted at a premium of 0-20 yuan/mt against the 03 contract, Xikang was quoted on par with the 03 contract, Bailing (delivered) was quoted at 60 yuan/mt against the 03 contract, Sihuan (delivered) was quoted at a premium of 0-30 yuan/mt against the 03 contract, and the high-end brand Zijin was quoted at a premium of 20-30 yuan/mt against the 03 contract. The futures market slightly rebounded today, downstream buyers were cautious due to high prices and mainly restocked based on rigid demand. Traders showed a slight tendency to stand firm on quotes, with low willingness to sell at discounts. Overall premiums remained stable, and market transactions were moderate.