Tianjin Zinc: Minor Restocking by Downstream on Dips, Transactions Slightly Better Than Yesterday [SMM Midday Review]
Feb 11, 2025 11:43Source:SMM
[Tianjin Zinc: Slight Restocking by Downstream, Transactions Slightly Better Than Yesterday]: The mainstream transaction prices of 0# zinc ingot in Tianjin market were 23,590-23,840 yuan/mt, Zijin traded at 23,670-23,850 yuan/mt, and 1# zinc ingot traded around 23,470-23,650 yuan/mt. Huludao was quoted at 27,140 yuan/mt. The premium of 0# ordinary zinc against the 2503 contract was around 10-80 yuan/mt, while Zijin's premium against the 2503 contract was around 80-90 yuan/mt. The discount of Tianjin market compared to Shanghai market was around 10 yuan/mt...
SMM February 11 News: In the Tianjin market, mainstream transactions for 0# zinc ingot were at 23,590-23,840 yuan/mt, Zijin traded at 23,670-23,850 yuan/mt, and 1# zinc ingot traded around 23,470-23,650 yuan/mt. Huludao was quoted at 27,140 yuan/mt. Ordinary 0# zinc was quoted at a premium of 10-80 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 80-90 yuan/mt against the 2503 contract. The Tianjin market showed a discount of around 10 yuan/mt compared to the Shanghai market. By the midday close, Xin Zi was quoted at 70 yuan/mt against the 03 contract, Chihong had no quotes for the 03 contract, Xikang was quoted at 0-60 yuan/mt against the 03 contract, and Hongye was quoted at 80 yuan/mt against the 03 contract. High-end brand Zijin was quoted at a premium of 80-90 yuan/mt against the 03 contract. The futures market continued to pull back today, with downstream buyers making small-scale restocking at lower prices, primarily for immediate needs. Transactions were mainly between traders, with dispersed quotations among them. Overall, market transactions improved compared to yesterday.