Zinc in Tianjin: Trades Picked up with Market Inquiries Improving

SHANGHAI, Feb 2 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 24,040-24,200 yuan/mt, Zijin zinc at 24,060-24,210 yuan/mt, and Huludao zinc at 28,870 yuan/mt. In terms of premium/discount, #0 zinc was in discounts of 80-130 yuan/mt over SHFE 2303 contract, Zijin zinc was 70-120 yuan/mt, and 40 yuan/mt over Shanghai.

The zinc prices fell today, and the quotations fell into a large price range. As of noon of February 2, spot discounts of regular brand Chihong stood at 100-130 yuan/mt over SHFE 2303, Hongye were 90-120 yuan/mt, Bailing recorded 110 yuan/mt, and high-priced Zijin were 70-120 yuan/mt; HZ (free from ex-works) was out of stock.

Zinc prices dropped compared with the previous day, which has encouraged some downstream enterprises to purchase. The market inquiries picked up, and the overall trading market has revived to some extent. #1 zinc ingot generally traded between 23,990-24,080 yuan/mt.