Tianjin Zinc: Premiums Decline as Downstream Adopts a Wait-and-See Attitude [SMM Midday Review]

Published: Dec 27, 2024 12:04

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[Tianjin Zinc: Premiums Decline, Downstream Holds a Wait-and-See Attitude]: The mainstream transaction price of 0# zinc ingot in the Tianjin market was 25,940–26,110 yuan/mt, Zijin traded at 26,080–26,190 yuan/mt, and 1# zinc ingot was traded around 25,470–25,570 yuan/mt. Huludao was quoted at 29,570 yuan/mt. The premium of 0# ordinary zinc against the 2501 contract was around 350–460 yuan/mt, while Zijin's premium against the 2501 contract was around 490–510 yuan/mt. The Tianjin market's premium over the Shanghai market was 80 yuan/mt...

SMM, December 27: In the Tianjin market, mainstream transactions for 0# zinc ingot were at 25,940-26,110 yuan/mt, Zijin traded at 26,080-26,190 yuan/mt, and 1# zinc ingot traded around 25,470-25,570 yuan/mt. Huludao was quoted at 29,570 yuan/mt. The premium for 0# zinc over the 2501 contract was around 350-460 yuan/mt for regular brands and 490-510 yuan/mt for Zijin. The Tianjin market showed a premium of 80 yuan/mt compared to the Shanghai market. By the midday close, Xinzi quoted a premium of 400-460 yuan/mt over the 01 contract, Chihong had no quotes for the 01 contract, Xikang quoted a premium of 350-370 yuan/mt over the 01 contract, and Bailing had no quotes for the 01 contract. High-end brand Zijin quoted a premium of around 490-510 yuan/mt over the 01 contract. The futures market dropped back slightly today, but downstream raw material inventories were relatively sufficient, and arrivals improved. Traders lowered their offers, while downstream buyers remained cautious, resulting in overall moderate market transactions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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