Zinc in Tianjin: Spot Premiums Lack Strong Momentum

SHANGHAI, Aug 24 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 25,600-25,810 yuan/mt, Zijin zinc 25,750-25,880 yuan/mt, and Huludao zinc 30,260 yuan/mt. In terms of premium/discount, #0 zinc was in premiums of 450-580 yuan/mt over SHFE 2209 contract, Zijin zinc 600-650 yuan/mt, and 250 yuan/mt over Shanghai. The zinc prices fekk slightly today, and market quotes were mostly in premiums. And the quotations posted a large price range.

As of noon of August 24, spot premiums of high-priced Zijin stood at 600-650 yuan/mt over SHFE 2209, Hongye 520-580 yuan/mt, Chihong 450 yuan/mt, and there were no quotes of ordinary brand Bailing. HZ (free from ex-works) was out of stock. Zinc prices were on the downward track today. There were quite a number of brands circulating in the spot market, with some more arriving in the spot market. The premiums fell slightly with improved supply, while the downstream players purchased on rigid demand. On the whole, the pick-up of cargoes and transaction in the Tianjin market were both modest. #1 zinc ingot generally traded between 25,460-25,550 yuan/mt.