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

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.