Tianjin Zinc: Downstream purchasing sentiment remains low, premiums continue to decline [SMM Midday Review]

SMM, June 5: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,650-22,820 yuan/mt, with Zijin transactions at 22,790-22,900 yuan/mt. Transactions for #1 zinc ingot were around 22,230-22,340 yuan/mt, while Huludao was quoted at 26,210 yuan/mt. The premium for ordinary #0 zinc against the 2507 contract was around 300-370 yuan/mt, and Zijin's premium against the 2507 contract was a premium of around 440-450 yuan/mt. Tianjin was quoted at a discount of around 90 yuan/mt compared to Shanghai. By the close of the morning session, Hongye's premium against the 07 contract was around 370-400 yuan/mt, while Chihong's premium against the 2507 contract was 300-350 yuan/mt. High-end brand Zijin's premium against the 07 contract was around 440-460 yuan/mt. Today, the futures market continued to rebound, downstream consumption was weak, restocking sentiment was poor, and traders continuously lowered premiums to facilitate sales. Overall market transactions were sluggish.