Tianjin Zinc: Weak consumption, downstream purchase willingness is not strong [SMM Midday Review]

SMM, June 3: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,640-22,830 yuan/mt, with Zijin transactions at 22,710-22,840 yuan/mt. Transactions for #1 zinc ingot were around 22,390-22,490 yuan/mt, while Huludao reported prices at 26,150 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was around 130-230 yuan/mt, and Zijin reported a premium of around 200-240 yuan/mt against the 2506 contract. Tianjin reported a discount of around 30 yuan/mt against the Shanghai market. By the close of the morning session, Hongye reported a premium of around 230 yuan/mt against the 06 contract, while Chihong reported premiums of 130-170 yuan/mt against the 2506 contract. High-end brand Zijin reported premiums of around 200-240 yuan/mt against the 06 contract. Today, the futures market fluctuated, with weak downstream consumption and restocking demand, primarily driven by immediate needs. Traders continued to lower their offers, focusing on transactions. Overall market transactions were sluggish.