Tianjin Zinc: Futures market pulls back, traders dominate trading [SMM Midday Review]

Published: Jun 19, 2025 12:22

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[Tianjin Zinc: Futures Pull Back, Traders Dominate Trading] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at RMB 21,950-22,170 yuan/mt, with Zijin transactions at RMB 22,030-22,210 yuan/mt. Transactions for #1 zinc ingot were around RMB 21,710-21,880 yuan/mt, while Huludao reported prices at RMB 25,350 yuan/mt. Regular #0 zinc ingot was quoted at a premium of RMB 120-180 yuan/mt against the 2507 contract, with Zijin quoted at a premium of RMB 200-220 yuan/mt against the 2507 contract. Tianjin prices were quoted at a premium of around RMB 10 yuan/mt compared to Shanghai prices.

SMM June 19: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at RMB 21,950-22,170/mt, with Zijin transactions at RMB 22,030-22,210/mt. Transactions for #1 zinc ingot were around RMB 21,710-21,880/mt, while Huludao was quoted at RMB 25,350/mt. The premium for ordinary #0 zinc against the 2507 contract was around RMB 120-180/mt, and the premium for Zijin against the 2507 contract was a premium of RMB 200-220/mt. Tianjin was quoted at a premium of around RMB 10/mt over Shanghai. By the close of the morning session, Xinzi was quoted at a premium of RMB 160-180/mt against the 07 contract, and Chihong was quoted at around RMB 120-160/mt against the 2507 contract. The premium for the high-end brand Zijin against the 07 contract was around RMB 200-220/mt. The futures market pulled back slightly, but downstream consumption remained weak, with low purchase sentiment. Trading was mainly among traders, and premiums continued to pull back, resulting in weak overall market transactions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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