Tianjin Zinc: Limited Spot Zinc in Market Circulation, Premiums Remain Firm [SMM Midday Review]

Published: Apr 18, 2025 11:53

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Tianjin Zinc: Limited Spot Cargo in Circulation, Premiums Remain Firm In the Tianjin market, the mainstream transactions for #0 zinc ingot were at 22,540-22,840 yuan/mt, Zijin transactions were at 22,740-22,870 yuan/mt, and #1 zinc ingot transactions were around 22,120-22,230 yuan/mt. Huludao quoted at 25,790 yuan/mt. The premium for #0 zinc ingot against the 2505 contract was around 300-500 yuan/mt, while Zijin's premium against the 2505 contract was around 500-530 yuan/mt. The premium in the Tianjin market against the Shanghai market was around 120 yuan/mt.

SMM April 18 News: In the Tianjin market, the mainstream transaction price of #0 zinc ingot was 22,540-22,840 yuan/mt, with Zijin trading at 22,740-22,870 yuan/mt, and #1 zinc ingot trading around 22,120-22,230 yuan/mt. Huludao quoted at 25,790 yuan/mt. The premium of #0 zinc ingot against the 2505 contract was around 300-500 yuan/mt, while Zijin's premium against the 2505 contract was around 500-530 yuan/mt. The premium in Tianjin compared to Shanghai was around 120 yuan/mt. By the close of the morning session, the premium of new Zijin against the 05 contract was around 460-500 yuan/mt, the premium of Xikuang delivery against the 05 contract was around 300-330 yuan/mt, and the premium of Chihong #1 against the 2505 contract was around 200 yuan/mt. The premium of high-priced brand Zijin against the 05 contract was around 500-530 yuan/mt. Today, zinc prices maintained a fluctuating trend, with downstream purchasing sentiment remaining low and a continued bearish outlook. Enterprises primarily restocked based on immediate needs, compounded by a shortage of supply in the Tianjin area. Traders maintained a firm stance on quotes, with premiums fluctuating at highs, resulting in overall average transaction volumes.

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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