Tianjin Zinc: Trading dominated by traders, premiums remain stable [SMM Midday Review]

SMM, May 22: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,580-22,800 yuan/mt, with Zijin transactions at 22,640-22,810 yuan/mt. Transactions for #1 zinc ingot were around 22,270-22,420 yuan/mt, while Huludao reported prices at 26,010 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was around 200-270 yuan/mt, and the premium for Zijin against the 2506 contract was around 250-280 yuan/mt. The Tianjin market was quoted at a discount of approximately 10 yuan/mt compared to the Shanghai market. By the close of the morning session, Chihong quoted a premium of around 200-250 yuan/mt against the 06 contract, Hongye quoted around 230-270 yuan/mt against the 06 contract, and the high-end brand Zijin quoted a premium of around 230-280 yuan/mt against the 06 contract. The futures market was mainly characterized by fluctuations, with downstream demand remaining relatively quiet and restocking sentiment low. Traders maintained stable offering prices today, with trading activities dominated by traders, and overall market transactions were average.