Tianjin Zinc: Some traders refuse to budge on prices, with premiums holding steady [SMM Midday Review]

SMM News on July 2: In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,190-22,310 yuan/mt, with Zijin transactions concluded at 22,250-22,340 yuan/mt. #1 zinc ingot transactions were concluded around 22,110-22,200 yuan/mt, while Huludao reported prices at 25,650 yuan/mt. #0 zinc ingot was quoted at a discount of 0-40 yuan/mt against the 2507 contract, with Zijin quoted at a premium of 20-30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around 70 yuan/mt against the Shanghai market. By the close of the morning session, Xikuang was quoted on par with the 07 contract, while Chihong was quoted at a delivery price of around 20-30 yuan/mt against the 2507 contract. Bailing was quoted at a delivery price of 20 yuan/mt against the 07 contract. For high-end brands, Zijin was quoted at a premium of 20-30 yuan/mt against the 07 contract. Today, the futures market maintained a fluctuating trend. Downstream buying sentiment was poor, with enterprises primarily restocking based on immediate needs or waiting for long-term contract deliveries. Traders maintained stable quotes, with a refusal to budge on prices, and premiums remained stable. Overall market transactions were poor.