Tianjin Zinc: Futures Market Pulled Back, Trading Improved Compared to Yesterday [SMM Midday Review]

Published: Feb 25, 2025 11:45

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[Tianjin Zinc: Futures Pulled Back, Transactions Improved Compared to Yesterday]: The mainstream transaction prices of #0 zinc ingot in the Tianjin market were 23,540-23,690 yuan/mt, Zijin traded at 23,570-23,710 yuan/mt, and #1 zinc ingot traded around 23,450-23,580 yuan/mt. Huludao was quoted at 26,960 yuan/mt. Ordinary #0 zinc ingot was quoted at a discount of 0-40 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 0-20 yuan/mt against the 2503 contract. The Tianjin market was at a discount of 20 yuan/mt compared to the Shanghai market...

SMM February 25 News: In the Tianjin market, mainstream transactions of #0 zinc ingot were at 23,540-23,690 yuan/mt, Zijin traded at 23,570-23,710 yuan/mt, and #1 zinc ingot traded around 23,450-23,580 yuan/mt. Huludao was quoted at 26,960 yuan/mt. #0 zinc ordinary was quoted at a discount of 0-40 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 0-20 yuan/mt against the 2503 contract. The Tianjin market was at a discount of 20 yuan/mt compared to the Shanghai market. As of the midday close, New Zijin was quoted at a discount of 0-20 yuan/mt against the 03 contract, Xikang delivered was quoted at a discount of 30-50 yuan/mt against the 03 contract, Bailing was quoted at a discount of 10 yuan/mt against the 03 contract, and high-priced brand Zijin was quoted at a premium of 0-20 yuan/mt against the 03 contract. The futures market pulled back significantly today. During the morning session, downstream purchasing on a pricing basis was active, and downstream restocking took place. Traders raised premiums to sell, but demand did not show substantial improvement. Subsequently, transactions weakened, and premiums struggled to rise. After a slight increase, premiums stabilized, and overall market transactions improved compared to 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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