Tianjin Zinc: Arrivals Gradually Increase, Premiums Decline [SMM Midday Review]

Published: Apr 24, 2025 11:52

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Tianjin Zinc: Increased Arrivals in Tianjin Lead to Declining Premiums. The mainstream transaction price of #0 zinc ingot in the Tianjin market ranged from 23,000 to 23,230 yuan/mt, with Zijin transactions at 23,160 to 23,260 yuan/mt. #1 zinc ingot transactions were around 22,640 to 22,720 yuan/mt, while Huludao quoted 26,340 yuan/mt. The premium of #0 zinc ingot against the 2505 contract was around 240 to 400 yuan/mt, with Zijin's premium against the 2505 contract at 400 to 430 yuan/mt. The premium in Tianjin compared to Shanghai was around 70 yuan/mt, and the price spread between Shanghai and Tianjin narrowed.

SMM April 24 News: In the Tianjin market, the mainstream transaction price of #0 zinc ingot was 23,000-23,230 yuan/mt, Zijin traded at 23,160-23,260 yuan/mt, #1 zinc ingot traded around 22,640-22,720 yuan/mt, Huludao quoted at 26,340 yuan/mt. The premium of #0 zinc ingot against the 2505 contract was around 240-400 yuan/mt, Zijin's premium against the 2505 contract was around 400-430 yuan/mt, the premium of Tianjin market against Shanghai market was around 70 yuan/mt, and the price spread between Shanghai and Tianjin narrowed. As of the midday close, Xinzi's premium against the 05 contract was around 330-340 yuan/mt, Xikuang's premium against the 05 contract was around 240-280 yuan/mt, Chihong's premium against the 05 contract was 330-340 yuan/mt, Hongye's premium against the 05 contract was around 400 yuan/mt, and the premium of high-priced brand Zijin against the 05 contract was around 400-430 yuan/mt. The futures market continued to fluctuate at highs, downstream purchasing enthusiasm was low, and most held a wait-and-see attitude towards prices. Arrivals in Tianjin gradually eased, and traders continuously lowered premiums and discounts to sell goods, with premiums declining and overall transactions being poor.

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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