Tianjin Zinc: Futures continue to rise, with low enthusiasm for downstream procurement [SMM Midday Review]

SMM reported on July 11: The mainstream transactions for #0 zinc ingot in the Tianjin market ranged from 22,340 to 22,470 yuan/mt, with Zijin transactions ranging from 22,380 to 22,500 yuan/mt. Transactions for #1 zinc ingot were around 22,230 to 22,350 yuan/mt, while Huludao was quoted at 25,790 yuan/mt. The ordinary #0 zinc ingot was quoted at a discount of 10 to a premium of 10 yuan/mt against the 2508 contract, with Zijin quoted at a premium of 30 to 40 yuan/mt against the 2508 contract. The Tianjin market was quoted at a discount of around 50 yuan/mt compared to the Shanghai market. By the close of the morning session, Xinzi was quoted at a premium of 10 yuan/mt against the 08 contract, while Chihong was quoted at a discount of 0 to 10 yuan/mt against the 2508 contract. Xinzi was quoted at a premium of 10 yuan/mt against the 08 contract, and the high-end brand Zijin was quoted at a premium of around 30 to 40 yuan/mt against the 08 contract. Today, the futures market continued to rally, with downstream buyers being cautious due to high prices. After some rigid demand restocking, spot pricing became the main focus. Traders slightly lowered their premiums to facilitate sales, with trading dominated by traders. Overall, market transactions were poor.