Tianjin Zinc: Market Supply Falls Short of Expectations, Traders Show Slight Inclination to Stand Firm on Quotes [SMM Midday Review]
Feb 7, 2025 11:58Source:SMM
[Tianjin Zinc: Most Downstream Enterprises Have Not Resumed Work, Sluggish Trading Atmosphere]: The mainstream transaction price of 0# zinc ingot in the Tianjin market was 23,690-24,020 yuan/mt, Zijin traded at 23,730-24,040 yuan/mt, and 1# zinc ingot traded around 23,500-23,810 yuan/mt. Huludao was quoted at 27,260 yuan/mt. Ordinary 0# zinc was quoted at a premium of 70-100 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 110-120 yuan/mt against the 2503 contract. The Tianjin market was on par with the Shanghai market.
SMM February 7 News: In the Tianjin market, mainstream transactions of 0# zinc ingots were at 23,690-24,020 yuan/mt, Zijin traded at 23,730-24,040 yuan/mt, and 1# zinc ingots were traded around 23,500-23,810 yuan/mt. Huludao was quoted at 27,260 yuan/mt. Ordinary 0# zinc was quoted at a premium of 70-100 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 110-120 yuan/mt against the 2503 contract. The Tianjin market was on parity with the Shanghai market. As of the midday close, Xinzi was quoted at a premium of 70-100 yuan/mt against the 03 contract, Chihong had no quotes for the 03 contract, Xikeng was quoted at a delivered premium of 50-90 yuan/mt against the 03 contract, and Hongye was quoted at 100 yuan/mt against the 03 contract. High-priced brand Zijin was quoted at a premium of 110-120 yuan/mt against the 03 contract. The futures market continued to rise today. Post-holiday downstream sectors are still gradually resuming operations, with limited restocking for immediate needs. Downstream purchases were scarce, overall consumption remained weak, and trading was mainly driven by traders. Expectations for next week's arrivals are low, with a slight tendency to stand firm on quotes. Overall market transactions were moderate.