Tianjin Zinc: Zinc Prices Climb, Overall Market Transactions Poor [SMM Midday Review]

Published: Mar 24, 2025 11:42

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Tianjin Zinc: Zinc Prices Climb, Overall Market Transactions Poor: In the Tianjin market, #0 zinc ingot mainly traded at 23,920 to 24,290 yuan/mt, Zijin traded at 24,030 to 24,310 yuan/mt, and #1 zinc ingot traded around 23,830 to 24,100 yuan/mt. Huludao was quoted at 27,520 yuan/mt. For #0 zinc, the premium against the 2504 contract ranged from a discount of 30 to a premium of 50 yuan/mt, while Zijin's premium against the 2504 contract was 80 to 100 yuan/mt. The Tianjin market was on parity with the Shanghai market.

SMM March 24: In the Tianjin market, #0 zinc ingot mainly traded at 23,920 to 24,290 yuan/mt, Zijin traded at 24,030 to 24,310 yuan/mt, and #1 zinc ingot traded around 23,830 to 24,100 yuan/mt. Huludao was quoted at 27,520 yuan/mt. The common #0 zinc was quoted at a discount of 30 to a premium of 50 yuan/mt against the 2504 contract, while Zijin was quoted at a premium of 80 to 100 yuan/mt against the 2504 contract. The Tianjin market was on parity with the Shanghai market. By the end of the morning session, Xinzi was quoted at a premium of 50 yuan/mt against the 04 contract, factory delivery of Xikuang Jinli was quoted at a discount of 0 to 20 yuan/mt against the 04 contract, Bailin delivery was quoted around 60 yuan/mt against the 05 contract, and high-priced brand Zijin was quoted at a premium of 80 to 100 yuan/mt against the 04 contract. Zinc prices rose today, but downstream buying sentiment was poor, with most taking a wait-and-see approach. Coupled with the recent low arrivals in the Tianjin area, self pick-up prices from traders' warehouses were firm and slightly increased, while factory delivery quotes for zinc ingots remained stable. The price difference between self pick-up from warehouses and factory delivery of zinc ingots remained large, leading to overall weak transactions.

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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