Tianjin Zinc: Futures Market Pulls Back, Trading Improves in Recent Two Days [SMM Midday Review]

SMM February 26 News: In the Tianjin market, mainstream transactions of #0 zinc ingot were at 23,500-23,610 yuan/mt, Zijin traded at 23,520-23,640 yuan/mt, and #1 zinc ingot traded around 23,390-23,490 yuan/mt. Huludao was quoted at 26,870 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 10-40 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 on par with to a premium of 0-10 yuan/mt against the 03 contract, Xikeng was quoted at a premium of 0-30 yuan/mt against the 03 contract, Bailing was quoted at a discount of 10 yuan/mt against the 03 contract, and high-end brand Zijin was quoted at a premium of 10-40 yuan/mt against the 03 contract. The futures market continued to pull back today, and some downstream buyers, concerned about a potential rebound in the futures market, continued restocking through pricing. However, most downstream buyers had made significant purchases yesterday, leading to slightly weaker transactions today. Traders took the opportunity to raise premiums for sales, showing a slight tendency to stand firm on quotes. Overall, market transactions were moderate.