Zinc in Tianjin: Transactions Were Modest as Downstream Enterprises Purchased on Dips

SHANGHAI, Sep 8 (SMM) - In Tianjin, 0# zinc ingot was mostly traded at 24,520-24,890 yuan/mt, Zijin zinc 24,670-24,970 yuan/mt, and Huludao zinc 30,050 yuan/mt. In terms of premium/discount, #0 zinc was in premiums of 650-730 yuan/mt over SHFE 2210 contract, Zijin zinc 800-810 yuan/mt, and -50yuan/mt over Shanghai. The zinc prices fell today, and the spot market saw varied premium/discount quotations. As of noon of September 8, spot premiums of ordinary brand Bailing stood at 650-700 yuan/mt over SHFE 2210, Hongye 690-730 yuan/mt, Chihong 650-700 yuan/mt, and high-priced brand Zijin 800-810 yuan/mt. HZ (free from ex-works) was out of stock. At the beginning, as the premium in Tianjin rose slightly amid falling zinc prices, traders actively made shipments and downstream enterprises purchased on dips. Later, the zinc prices soared, and downstream buyers diminished purchases, most of whom picked up goods first before settling the prices. On the whole, the transactions in the Tianjin market were modest. #1 zinc ingot generally traded between 24,500-24,800 yuan/mt.