Tianjin Zinc: Futures Market Continues to Decline, Traders Actively Trading [SMM Midday Review]

Published: Feb 28, 2025 11:51

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[Tianjin Zinc: Futures Market Continues to Decline, Traders Are Active]: The mainstream transaction prices of #0 zinc ingot in the Tianjin market were 23,410-23,610 yuan/mt, Zijin traded at 23,460-23,650 yuan/mt, and #1 zinc ingot traded around 23,290-23,460 yuan/mt. Huludao was quoted at 26,810 yuan/mt. Ordinary #0 zinc ingot reported a premium of 0-40 yuan/mt against the 2503 contract, while Zijin reported a premium of 50-80 yuan/mt against the 2503 contract. The Tianjin market was on par with the Shanghai market...

SMM February 28 News: In the Tianjin market, mainstream transactions of #0 zinc ingot were at 23,410-23,610 yuan/mt, Zijin traded at 23,460-23,650 yuan/mt, and #1 zinc ingot traded around 23,290-23,460 yuan/mt. Huludao was quoted at 26,810 yuan/mt. Ordinary #0 zinc was quoted at a premium of 0-40 yuan/mt against the 2503 contract, while Zijin was quoted at a premium of 50-80 yuan/mt against the 2503 contract. The Tianjin market was on par with the Shanghai market. As of the midday close, Xinzi was quoted at a premium of 0-40 yuan/mt against the 03 contract, Xikeng was quoted at a discount of 20-30 yuan/mt against the 03 contract, Bailing was quoted at a premium of 20-30 yuan/mt against the 03 contract, and high-priced brand Zijin was quoted at a premium of 50-80 yuan/mt against the 03 contract. The futures market continued to pull back today, and downstream restocked on dips. However, due to consumption impact, procurement volume was average. New long-term contracts have started execution, and purchases by traders increased. Trading among traders was relatively active, with a slight tendency to stand firm on quotes, leading to a small rise in premiums. Overall market transactions were moderate.

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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