Tianjin Zinc: Futures market rebounds, overall trading volume remains poor [SMM Midday Review]

SMM May 28 report: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,790-22,930 yuan/mt, with Zijin transactions at 22,840-22,980 yuan/mt, and #1 zinc ingot transactions at around 22,470-22,590 yuan/mt. Huludao reported prices at 26,190 yuan/mt. The ordinary #0 zinc ingot was quoted at a premium of 200-230 yuan/mt against the 2506 contract, while Zijin was quoted at a premium of around 250-280 yuan/mt against the 2506 contract. The Tianjin market was quoted at a premium of around 10 yuan/mt against the Shanghai market. By the close of the morning session, Xinzi was quoted at a premium of around 200-230 yuan/mt against the 06 contract, and the high-end brand Zijin was quoted at a premium of around 250-280 yuan/mt against the 06 contract. The futures market was fluctuating at a relatively high level, with weak downstream demand. As the Dragon Boat Festival approached, the willingness to restock was not strong, and there was still a bearish sentiment. Restocking was mainly for immediate needs, with traders continuously lowering premiums to facilitate sales. Overall, market transactions were poor.