Tianjin Zinc: Premiums Decline, Traders Dominate Trading [SMM Midday Review]

SMM May 15 report: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,870-23,110 yuan/mt, with Zijin transactions at 22,970-23,160 yuan/mt, and #1 zinc ingot transactions at around 22,500-22,670 yuan/mt. Huludao was quoted at 26,260 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported at around 250-330 yuan/mt, while the premium for Zijin against the 2506 contract was reported at 320-360 yuan/mt. The Tianjin market was quoted at parity with the Shanghai market. By the close of the morning session, Chihong's premium against the 06 contract was reported at around 250-320 yuan/mt, while Xinzi's premium against the 06 contract was reported at 300-320 yuan/mt for delivery. The premium for the high-end brand Zijin against the 06 contract was reported at around 320-360 yuan/mt. Today, the futures market continued to rise slightly. Downstream buyers were cautious about purchasing at high prices, with only a small amount of restocking for immediate needs and fewer inquiries. Traders continued to lower their premiums to sell, resulting in poor overall market transactions.