Zinc in Tianjin: Transactions Were Modest with Market Quotes Falling into a Wide Range

SHANGHAI, Sep 6 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 24,860-25,050 yuan/mt, Zijin zinc 25,030-25,140 yuan/mt, and Huludao zinc 30,250 yuan/mt. In terms of premium/discount, #0 zinc was in premiums of 630-750 yuan/mt over SHFE 2210 contract, Zijin zinc 800-840 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 large price range.

As of noon of September 6, spot premiums of ordinary brand Bailing stood at 700-730 yuan/mt over SHFE 2210, Hongye 630-750 yuan/mt, Chihong 680-720 yuan/mt, and high-priced brand Zijin 800 yuan/mt. HZ (free from ex-works) was out of stock.

Some traders still with stocks on hand shipped with low prices when SHFE zinc rose today. However, most traders still held the prices firm considering restricted shipment and maintenance of some smelters. The downstream players mostly purchased on rigid demand. On the whole, the transaction in the Tianjin market was only modest. #1 zinc ingot generally traded between 24,860-24,940 yuan/mt.