Tianjin Zinc: Futures market rises, but trading is sluggish [SMM Midday Review]

SMM reported on July 10: The mainstream transaction price of #0 zinc ingot in the Tianjin market ranged from 22,220 to 22,470 yuan/mt, with Zijin trading at 22,270 to 22,490 yuan/mt. #1 zinc ingot traded around 22,110 to 22,320 yuan/mt, while Huludao was quoted at 25,760 yuan/mt. The ordinary #0 zinc ingot was quoted at a discount of 10 to a premium of 40 yuan/mt against the 2508 contract, with Zijin quoted at a premium of 40 to 60 yuan/mt against the 2508 contract. The Tianjin market was quoted at a discount of 60 yuan/mt against the Shanghai market. By the close of the morning session, Hongye was quoted at a premium of 40 yuan/mt against the 08 contract, Chihong was quoted at a discount of 10 to a premium of 40 yuan/mt against the 2508 contract, Xinzi was quoted at 10 to 30 yuan/mt against the 08 contract, and the high-end brand Zijin was quoted at a premium of 40 to 60 yuan/mt against the 08 contract. Today, the futures market surged significantly, causing downstream buyers to be cautious about purchasing due to high prices, resulting in low purchasing enthusiasm. In the morning session, traders maintained stable quotes, but later slightly lowered their premiums to facilitate sales. Overall, market transactions were poor.