Tianjin Zinc: Futures market mainly fluctuates, with weak downstream purchase willingness [SMM Midday Review]

SMM, July 4: In the Tianjin market, the mainstream transaction price of #0 zinc ingot ranged from 22,300 to 22,420 yuan/mt, with Zijin trading at 22,340 to 22,450 yuan/mt. The transaction price of #1 zinc ingot was around 22,210 to 22,310 yuan/mt, while Huludao reported a price of 25,770 yuan/mt. The #0 zinc ingot was quoted at a discount of 0 to 20 yuan/mt against the 2507 contract, and Zijin was quoted at a premium of 10 to 30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of 70 yuan/mt against the Shanghai market. By the close of the morning session, Xikuang was quoted at parity for delivery against the 07 contract, Chihong was quoted at parity for delivery against the 2507 contract, and Bailing was quoted at 20 yuan/mt for delivery against the 07 contract. The high-end brand Zijin was quoted at a premium of 10 to 30 yuan/mt against the 07 contract. Today, the futures market maintained a fluctuating trend. Affected by heavy rainfall, downstream operations in Tianjin were hindered, leading to poor buying sentiment among downstream buyers. A small number of enterprises restocked based on immediate needs, while traders maintained stable quotes. Overall, market transactions were weak.