Tianjin Zinc: Downstream Demand Remains Weak, Premiums Decline [SMM Midday Review]

게시됨: Feb 13, 2025 11:58
[Tianjin Zinc: Downstream Demand Remains Weak, Premiums Decline]: The mainstream transaction price of 0# zinc ingot in the Tianjin market was 23,700-23,860 yuan/mt, Zijin traded at 23,780-23,890 yuan/mt, and 1# zinc ingot traded around 23,610-23,700 yuan/mt. Huludao was quoted at 27,110 yuan/mt. The ordinary 0# zinc was quoted at a discount of 30-50 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 50-80 yuan/mt against the 2503 contract. The Tianjin market was at a discount of around 10 yuan/mt compared to the Shanghai market. ...
SMM, February 13: In the Tianjin market, mainstream transactions of 0# zinc ingot were concluded at 23,700-23,860 yuan/mt, Zijin transactions at 23,780-23,890 yuan/mt, and 1# zinc ingot at around 23,610-23,700 yuan/mt. Huludao was quoted at 27,110 yuan/mt. Ordinary 0# zinc was quoted at a discount of 30-50 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 50-80 yuan/mt against the 2503 contract. The Tianjin market was at a discount of around 10 yuan/mt compared to the Shanghai market. By the midday close, New Zijin was quoted at a premium of around 50 yuan/mt against the 03 contract, Chihong had no quotes for the 03 contract, Xikuang was quoted at a discount of around 30 yuan/mt against the 03 contract, Bailing was quoted at a discount of 10-20 yuan/mt against the 03 contract, and Sihuan delivered to buyers at a discount of around 30 yuan/mt against the 03 contract. High-end brand Zijin was quoted at a premium of 50-80 yuan/mt against the 03 contract. The futures market rebounded today, with downstream restocking mainly driven by rigid demand. There were fewer transactions based on pricing, and large factories primarily focused on long-term contracts. Demand remained weak, and traders were eager to sell, leading to a reduction in premiums. Overall, market trading sentiment was sluggish.

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