Tianjin Zinc: Downstream Replenished Inventory Slightly as Weekend Approached, Premium Remained Steady [SMM Midday Review]

Published: May 23, 2025 11:48

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[Tianjin Zinc: Downstream Buyers Made Small-Scale Restocking as Weekend Approached, Premiums Remained Stable] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,640-22,780 yuan/mt, with Zijin transactions at 22,690-22,820 yuan/mt. Transactions for #1 zinc ingot were concluded around 22,320-22,440 yuan/mt, while Huludao reported prices at 26,070 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported around 200-230 yuan/mt, and the premium for Zijin against the 2506 contract was reported around 250-270 yuan/mt. The Tianjin market was quoted at a discount of around 10 yuan/mt compared to the Shanghai market.

SMM, May 23: In the Tianjin market, the mainstream transactions for #0 zinc ingot were concluded at 22,640-22,780 yuan/mt, with Zijin transactions at 22,690-22,820 yuan/mt, and #1 zinc ingot transactions at around 22,320-22,440 yuan/mt. Huludao reported prices at 26,070 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported at around 200-230 yuan/mt, while the premium for Zijin against the 2506 contract was reported at around 250-270 yuan/mt. The Tianjin market was quoted at a discount of around 10 yuan/mt compared to the Shanghai market. By the close of the morning session, Chihong's premium against the 06 contract was reported at around 200-220 yuan/mt, Hongye's price against the 06 contract was reported at around 220 yuan/mt, and the premium for high-end brand Zijin against the 06 contract was reported at around 230-270 yuan/mt. The futures market rebounded slightly, but as the weekend approached, some downstream enterprises made small replenishments. Traders maintained stable offering prices today, with trading activities dominated by traders, and overall market transactions were average.

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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