Tianjin Market: High Zinc Prices Weighed on Market Transactions

SHANGHAI, Nov 8 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 21560~21700 yuan/mt, Zijin zinc 21590~21700 yuan/mt, and Huludao zinc 25380 yuan/mt. In terms of premium/discount, #0 zinc was quoted with discounts of 40-0 yuan/mt over SHFE 2312 contract, and Zijin zinc with premiums of 0 yuan/mt. Prices in Tianjin were 80 yuan/mt lower than Shanghai prices.

As of noon November 8, spot discounts of ordinary brand Chihong stood at 20~40 yuan/mt over SHFE 2312 zinc contract, Hongye 20 yuan/mt, Xinzi 20 yuan/mt, Kazakhstan zinc 80 yuan/mt (delivery in warehouse), and high-priced brand Zijin 0 yuan/mt. Today, the zinc price was still high. Sellers lacked interest in selling, and the market transactions were poor. #1 zinc ingot prices fluctuated between 21490~21600 yuan/mt today.