Tianjin Zinc: Futures Are Low, Traders Hold Prices Firm [SMM Midday Review]

Published: Jul 21, 2026 11:24

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[Tianjin Zinc: Low Futures Prompt Traders' Firm Price Sentiment] In the Tianjin market, #0 zinc ingot was mainly traded at 24,180-24,390 yuan/mt, Zijin traded at 24,290-24,440 yuan/mt, and #1 zinc ingot traded at around 24,170-24,300 yuan/mt. Zijin was quoted at a premium of 0-30 yuan/mt against the 2608 contract, Hulu zinc was quoted at 25,625 yuan/mt, and #0 zinc ingot was at a discount of 20-110 yuan/mt against the 2608 contract. The Tianjin market was at a discount of around 95 yuan/mt to the Shanghai market.

SMM, July 21 – In the Tianjin market, #0 zinc ingot mainstream traded at 24,180-24,390 yuan/mt, Zijin traded at 24,290-24,440 yuan/mt, #1 zinc ingot traded around 24,170-24,300 yuan/mt, Zijin reported at a premium of 0-30 yuan/mt against the 2608 contract, Huxin reported at 25,625 yuan/mt, #0 zinc ingot reported at a discount of 20-110 yuan/mt against the 2608 contract, and the Tianjin market reported a discount of 95 yuan/mt against the Shanghai market. As of the midday close, the high-end brand Zijin reported at a premium of 0-30 yuan/mt against the 2608 contract, and Huoshaoyun reported at a discount of 100-110 yuan/mt against the 2608 contract. Today, the Tianjin region’s refined zinc procurement sentiment was 1.94, and shipment sentiment was 2.51. Futures continued to pull back today. Downstream remained on the sidelines with low purchasing enthusiasm. Traders held prices firm when selling, and premiums edged up. Overall market transactions were poor today.

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