Tianjin Zinc: Downstream purchase sentiment is low, premium remains stable [SMM Midday Review]

SMM, May 27: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,710-23,060 yuan/mt, with Zijin transactions at 22,770-23,110 yuan/mt, and #1 zinc ingot transactions at around 22,390-23,110 yuan/mt. Huludao reported prices at 26,090 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported at around 200-240 yuan/mt, while Zijin reported a premium of premium around 260-300 yuan/mt against the 2506 contract. The Tianjin market was reported to be on par with the Shanghai market. By the close of the morning session, Xinzhi reported a premium of around 240 yuan/mt against the 06 contract, while Hazin reported a premium of around 160 yuan/mt against the 06 contract. High-end brand Zijin reported a premium of around 260-300 yuan/mt against the 06 contract. The futures market was trading at a relatively high level with fluctuations. Downstream buyers were cautious about purchasing due to high prices, primarily focusing on restocking to meet immediate needs. The implementation of new long-term contracts began, and downstream consumption pulled back somewhat, with overall demand being average. Traders showed a tendency to refuse to budge on prices in their offers today, with premiums holding steady. Overall market transactions were average.