Tianjin Zinc: Futures market pulls back, traders dominate trading [SMM Midday Review]

SMM June 19: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at RMB 21,950-22,170/mt, with Zijin transactions at RMB 22,030-22,210/mt. Transactions for #1 zinc ingot were around RMB 21,710-21,880/mt, while Huludao was quoted at RMB 25,350/mt. The premium for ordinary #0 zinc against the 2507 contract was around RMB 120-180/mt, and the premium for Zijin against the 2507 contract was a premium of RMB 200-220/mt. Tianjin was quoted at a premium of around RMB 10/mt over Shanghai. By the close of the morning session, Xinzi was quoted at a premium of RMB 160-180/mt against the 07 contract, and Chihong was quoted at around RMB 120-160/mt against the 2507 contract. The premium for the high-end brand Zijin against the 07 contract was around RMB 200-220/mt. The futures market pulled back slightly, but downstream consumption remained weak, with low purchase sentiment. Trading was mainly among traders, and premiums continued to pull back, resulting in weak overall market transactions.