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

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.