Tianjin Zinc: Low Downstream Purchase Willingness, Premiums Continue to Decline [SMM Midday Review]
Jan 7, 2025 12:32 Source:SMM
[Tianjin Zinc: Low Downstream Purchase Willingness, Premiums Continue to Decline]: The mainstream transaction prices of 0# zinc ingots in the Tianjin market were 24,800-25,010 yuan/mt, Zijin traded at 24,860-25,060 yuan/mt, and 1# zinc ingots were traded at around 24,400-24,590 yuan/mt. Huludao was quoted at 28,360 yuan/mt. The premium for 0# ordinary zinc against the 2501 contract was around 280-310 yuan/mt, while Zijin's premium against the 2501 contract was around 340-360 yuan/mt. The Tianjin market showed a discount of 70 yuan/mt compared to the Shanghai market...
SMM January 7 News: In the Tianjin market, mainstream transactions of 0# zinc ingot were at 24,800-25,010 yuan/mt, Zijin traded at 24,860-25,060 yuan/mt, and 1# zinc ingot traded around 24,400-24,590 yuan/mt. Huludao was quoted at 28,360 yuan/mt. The premium for ordinary 0# zinc against the 2501 contract was around 280-310 yuan/mt, while Zijin's premium against the 2501 contract was approximately 340-360 yuan/mt. The Tianjin market was at a discount of 70 yuan/mt compared to the Shanghai market. By the midday close, Xin Zi's premium against the 01 contract was 280-310 yuan/mt, Chihong's premium against the 01 contract was 280-310 yuan/mt, Xikang had no quotes for the 01 contract, and Bailing also had no quotes for the 01 contract. High-end brand Zijin's premium against the 01 contract was around 350-360 yuan/mt. The futures market continued to pull back, and downstream buyers mainly restocked based on rigid demand. Some enterprises, still bearish before the holiday, showed low purchasing enthusiasm. Traders lowered premiums for shipments, and overall market transactions were moderate.