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

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.