Tianjin Zinc: Futures Market Rallied, Low Downstream Purchasing Enthusiasm [SMM Midday Review]

Published: Feb 14, 2025 11:48

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[Tianjin Zinc: Futures Market Rallied, Low Downstream Purchasing Enthusiasm]: The mainstream transaction price of 0# zinc ingot in the Tianjin market was 23,730-24,140 yuan/mt, Zijin traded at 23,800-24,150 yuan/mt, and 1# zinc ingot traded around 23,640-23,990 yuan/mt. Huludao was quoted at 27,360 yuan/mt. Ordinary 0# zinc was quoted at a discount of 30-40 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 40-50 yuan/mt against the 2503 contract. The Tianjin market was at a discount of around 20 yuan/mt compared to the Shanghai market...

SMM February 14 News: In the Tianjin market, mainstream transactions of 0# zinc ingot were concluded at 23,730-24,140 yuan/mt, Zijin traded at 23,800-24,150 yuan/mt, and 1# zinc ingot traded around 23,640-23,990 yuan/mt. Huludao was quoted at 27,360 yuan/mt. Ordinary 0# zinc was quoted at a discount of 30-40 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 40-50 yuan/mt against the 2503 contract. The Tianjin market was at a discount of around 20 yuan/mt compared to the Shanghai market. As of the midday close, New Zijin was quoted at a premium of 30-40 yuan/mt against the 03 contract, Xikang at a discount of 30 yuan/mt against the 03 contract, Bailing (delivered) at 60 yuan/mt against the 03 contract, Sihuan (delivered) at a premium of 30 yuan/mt against the 03 contract, and high-end brand Zijin at a premium of 40-50 yuan/mt against the 03 contract. The futures market surged today, downstream buyers were cautious due to high prices and showed low purchasing willingness. Traders, eager to sell, lowered premiums to facilitate transactions, resulting in an overall market performance worse than yesterday.

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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