Tianjin Zinc: Futures Market Pulled Back, While Market Transactions Remained Moderate [SMM Midday Review]

Published: Jan 6, 2025 12:06

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[Tianjin Zinc: Futures Market Pulled Back, but Market Transactions Were Moderate]: The mainstream transaction prices of 0# zinc ingot in the Tianjin market were 24,940-25,150 yuan/mt, Zijin traded at 25,000-25,170 yuan/mt, and 1# zinc ingot traded around 24,520-24,690 yuan/mt, while Huludao was quoted at 28,410 yuan/mt. The premium of 0# ordinary zinc against the 2501 contract was around 300-350 yuan/mt, and Zijin's premium against the 2501 contract was around 360-370 yuan/mt. The Tianjin market showed a discount of 40 yuan/mt against the Shanghai market...

SMM January 6 News: In the Tianjin market, mainstream transactions of 0# zinc ingot were concluded at 24,940-25,150 yuan/mt, Zijin transactions at 25,000-25,170 yuan/mt, and 1# zinc ingot transactions at around 24,520-24,690 yuan/mt. Huludao was quoted at 28,410 yuan/mt. Ordinary 0# zinc was quoted at a premium of 300-350 yuan/mt against the 2501 contract, while Zijin was quoted at a premium of 360-370 yuan/mt against the 2501 contract. The Tianjin market showed a discount of 40 yuan/mt compared to the Shanghai market. As of the midday close, Xinzi was quoted at 300-350 yuan/mt against the 01 contract, Chihong at 300-350 yuan/mt against the 01 contract, Xikang at 180 yuan/mt against the 01 contract, and Bailing had no quotes. High-end brand Zijin was quoted at a premium of 360-370 yuan/mt against the 01 contract. The futures market pulled back today, but downstream players maintained a bearish sentiment, showing weak purchase willingness. In the early session, traders held firm on their offers, but later slightly lowered the premiums. Overall, transactions were moderate.

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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