Zinc in Tianjin: Transactions were Slack amid Wait-and-see Sentiment

SHANGHAI, Feb 9 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 23,210-23,300 yuan/mt, Zijin zinc 23,280-23,340 yuan/mt, and Huludao zinc 28,050 yuan/mt.

At the same time, #0 zinc was quoted with discounts of 60-100 yuan/mt over SHFE 2303 contract, Zijin zinc 20-30 yuan/mt, and 50 yuan/mt against Shanghai.

The zinc prices remained rangebound today, and the quotations fell into a wide price range.

As of noon of February 9, spot discounts of regular brand Chihong stood at 60-100 yuan/mt over SHFE 2303 contract, Hongye 60-70 yuan/mt, Bailing 30 yuan/mt, high-priced brand Zijin 20-30 yuan/mt. KZ (free from ex-works) was out of stock. Zinc prices were volatile today. Traders generally held firm to their offers, but occasionally lowered the prices to promote sales as downstream buyers remained wait-and-see. The overall transactions were slack.

1# zinc ingot was traded between 23,120-23,160 yuan/mt.