Tianjin Zinc: Zinc Prices Fluctuate at High Levels, Market Transactions Remain Moderate [SMM Midday Review]

Published: Mar 26, 2025 11:44

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【Tianjin Zinc: Zinc Prices Fluctuate at High Levels, Market Transactions Moderate】: In the Tianjin market, the mainstream transaction price for #0 zinc ingot ranged from 24,050 to 24,290 yuan/mt, Zijin transactions ranged from 24,170 to 24,340 yuan/mt, #1 zinc ingot transactions were around 23,970 to 24,130 yuan/mt, Huludao quoted at 27,460 yuan/mt, #0 zinc ordinary was quoted at a discount of 40 to a premium of 50 yuan/mt against the 2504 contract, Zijin was quoted at a premium of 80 to 100 yuan/mt against the 2504 contract, and the Tianjin market was quoted at a discount of 10 yuan/mt against the Shanghai market.

SMM March 26: In the Tianjin market, the mainstream transaction price of #0 zinc ingot ranged from 24,050 to 24,290 yuan/mt, Zijin traded at 24,170 to 24,340 yuan/mt, #1 zinc ingot traded around 23,970 to 24,130 yuan/mt, Huludao quoted at 27,460 yuan/mt. The premium of #0 zinc ingot against the 2504 contract was around a discount of 40 to a premium of 50 yuan/mt, Zijin against the 2504 contract was around a premium of 80 to 100 yuan/mt, and the Tianjin market quoted a discount of around 10 yuan/mt against the Shanghai market. As of the midday close, Xinzi against the 04 contract was around a premium of 30 to 60 yuan/mt, factory delivery to Xikuang against the 04 contract was around a discount of 0 to 40 yuan/mt, Bailing delivery against the 05 contract was around 60 yuan/mt, and the high-priced brand Zijin against the 04 contract was around a premium of 80 to 100 yuan/mt. Today, zinc prices remained volatile, downstream acceptance was difficult, and new long-term contracts began to be executed. Some downstream companies mainly relied on long-term contracts, with a small portion restocking for rigid demand. Traders slightly lowered premiums to facilitate sales, and overall 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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