Tianjin Zinc: Futures market rises slightly, premium declines [[SMM] Midday Review]

SMM May 8 report: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,610-22,920 yuan/mt, with Zijin transactions at 22,770-23,020 yuan/mt, and #1 zinc ingot transactions at around 22,070-22,310 yuan/mt. Huludao was quoted at 26,210 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported at around 420-500 yuan/mt, with Zijin's premium against the 2506 contract at around 580-600 yuan/mt. Tianjin was quoted at a discount of around 20 yuan/mt compared to Shanghai. By the close of the morning session, Xinzi's premium against the 06 contract was reported at around 470-500 yuan/mt, Xikuang's premium against the 06 contract was 450 yuan/mt delivered, Chihong's premium against the 06 contract was around 450-500 yuan/mt, and the premium for the high-end brand Zijin against the 06 contract was around 580-600 yuan/mt. The futures market fluctuated, with overall downstream demand being average, primarily driven by just-in-time restocking. Some downstream players still held bearish sentiments, leading to a slight decline in traders' offering prices and premiums. Overall transaction volumes were average.