Tianjin Zinc: Futures Market Rebounds, Trading Dominated by Traders [SMM Midday Review]

SMM May 14 news: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at RMB 22,790-23,060/mt, with Zijin transactions at RMB 22,930-23,130/mt. Transactions for #1 zinc ingot were around RMB 22,420-22,570/mt, while Huludao was quoted at RMB 26,200/mt. Regular #0 zinc was quoted at a premium of RMB 250-380/mt against the 2506 contract, with Zijin quoted at a premium of RMB 390-450/mt against the 2506 contract. The Tianjin market was quoted on par with the Shanghai market. By the close of the morning session, Chihong was quoted at a premium of RMB 250-350/mt against the 06 contract, while Bailing was quoted at a premium of RMB 370/mt against the 06 contract for delivery. High-end brand Zijin was quoted at a premium of RMB 390-450/mt against the 06 contract. Today, the futures market surged, with downstream buyers cautious about purchasing at high prices, conducting only small-scale restocking for immediate needs and barely inquiring about prices. Traders lowered their premiums to sell, but transactions were mainly among traders, resulting in poor overall market transactions.