Tianjin Zinc: Futures market drops back slightly, trading volume improves slightly [SMM Midday Review]

SMM reported on July 7: The mainstream transactions of #0 zinc ingot in the Tianjin market ranged from 22,110 to 22,290 yuan/mt, with Zijin transactions ranging from 22,150 to 22,310 yuan/mt. The transactions of #1 zinc ingot were around 22,010 to 22,170 yuan/mt, while Huludao reported a price of 25,630 yuan/mt. The ordinary #0 zinc ingot was quoted at a premium of 0 to 20 yuan/mt against the 2507 contract, and Zijin was quoted at a premium of around 20 to 30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around 70 yuan/mt compared to the Shanghai market. By the close of the morning session, Xikuang was quoted at a premium of 10 yuan/mt delivered against the 07 contract, Chihong was quoted on par with the 2507 contract, Xinzi was quoted at a premium of 0 to 10 yuan/mt against the 07 contract, and the high-end brand Zijin was quoted at a premium of around 20 to 30 yuan/mt against the 07 contract. Today, the futures market pulled back, with downstream buyers increasing their spot pricing and cargo pick-up. Some enterprises restocked based on immediate needs, and traders' quotes rose slightly, leading to an improvement in overall market transactions.