Zinc in Tianjin: Downstream Buyers not Keen on Purchasing amid Volatile Zinc Price

SHANGHAI, Feb 8 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 23,440-23,5300 yuan/mt, Zijin zinc 23,490-23,570 yuan/mt, and Huludao zinc 28,220 yuan/mt.

In terms of premium/discount, #0 zinc was quoted with discounts of 60-100 yuan/mt over SHFE 2303 contract, Zijin zinc 20-50 yuan/mt, and 50 yuan/mt over Shanghai.

The zinc prices were on the rise today, and the premiums were largely stable. And the quotations fell into a wide price range.

As of noon of February 8, spot discounts of regular brand Chihong stood at 70-100 yuan/mt over SHFE 2303, Hongye 60-90 yuan/mt, high-priced brand Zijin 20-50 yuan/mt. There was no quotation for Bailing, and KZ (free from ex-works) was out of stock.

Zinc prices fluctuated upwards today, and traders offered quotations with discounts. The downstream buyers mainly stood wait-and-see with sufficient inventory. Thus, the poor sales pressured traders to lower the prices to promote sales, but the overall transactions were slack.

1# zinc ingot was traded between 23,350-23,390 yuan/mt.