Tianjin Zinc: Downstream Purchase Enthusiasm Remains Low, Premium Slightly Declines [SMM Midday Review]

SMM April 21 News: In the Tianjin market, the mainstream transactions of #0 zinc ingot were at 22,620-22,940 yuan/mt, Zijin transactions were at 22,830-22,980 yuan/mt, #1 zinc ingot transactions were around 22,230-22,360 yuan/mt, Huludao reported at 25,900 yuan/mt. The premium of #0 zinc ingot against the 2505 contract was around 270-470 yuan/mt, Zijin's premium against the 2505 contract was around 480-510 yuan/mt, and the premium of Tianjin market against Shanghai market was around 130 yuan/mt. By the close of the morning session, the premium of new Zijin against the 05 contract was around 430-470 yuan/mt, the premium of Xikuang delivery against the 05 contract was around 270-290 yuan/mt, the premium of Chihong #1 against the 2505 contract was around 180-200 yuan/mt, and the premium of high-priced brand Zijin against the 05 contract was around 480-510 yuan/mt. Today, zinc prices remained volatile, downstream purchasing sentiment was low, enterprises mainly restocked based on rigid demand, with limited transactions. Traders gradually lowered premiums and discounts to facilitate sales, but premiums still fluctuated at highs. Spot supply in Tianjin was tight, and the price spread between Shanghai and Tianjin gradually widened, with overall transactions being moderate.