Tianjin Zinc: Futures market dominated by fluctuations, premium remains stable [SMM Midday Review]

SMM June 12 news: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at RMB 22,190-22,390 yuan/mt, with Zijin transactions at RMB 22,270-22,420 yuan/mt. Transactions for #1 zinc ingot were around RMB 21,850-21,980 yuan/mt, while Huludao was quoted at RMB 25,670 yuan/mt. Regular #0 zinc ingot was quoted at a premium of RMB 180-300 yuan/mt against the 2507 contract, with Zijin quoted at a premium of RMB 300-330 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around RMB 30 yuan/mt against the Shanghai market. By the close of the morning session, Xinzhi was quoted at a premium of around RMB 280-300 yuan/mt against the 07 contract, while Chihong was quoted at RMB 180-220 yuan/mt against the 2507 contract. High-end brand Zijin was quoted at a premium of around RMB 300-330 yuan/mt against the 07 contract. The futures market fluctuated, with downstream buyers showing low enthusiasm for procurement, primarily engaging in just-in-time restocking. Coupled with the widening price spread between futures contracts, many traders had delivery plans. Premiums remained stable, with traders dominating the trading activity. Overall market transactions were weak.