Tianjin Zinc: Futures continue to rise, while premium declines [SMM Midday Review]

SMM June 27 News: The mainstream transactions for #0 zinc ingot in the Tianjin market ranged from 22,440 to 22,640 yuan/mt, with Zijin transactions ranging from 22,460 to 22,670 yuan/mt. Transactions for #1 zinc ingot were around 22,360 to 22,530 yuan/mt, while Huludao was quoted at 25,930 yuan/mt. The #0 zinc ingot was quoted at a discount of 0 to 40 yuan/mt against the 2507 contract, with Zijin quoted at a discount of 20 to a premium of 30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around 90 yuan/mt against the Shanghai market. By the close of the morning session, Xinzi was quoted at a discount of 0 to 40 yuan/mt against the 07 contract, while Chihong was quoted at a discount of around 0 to 40 yuan/mt against the 2507 contract. High-end brand Zijin was quoted at a discount of 20 to a premium of 30 yuan/mt against the 07 contract. Zinc prices continued to rise, with downstream buyers cautious due to high prices and fewer inquiries and price negotiations. Traders' quotes were chaotic, with some continuing to lower premiums to facilitate sales, while others held back inventory awaiting delivery, resulting in overall poor market transactions.