Tianjin Zinc: Futures Remain at High Levels, Market Trading Is Not Active [SMM Midday Review]

Published: Aug 4, 2026 11:29

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[Tianjin Zinc: Futures Stay High, Trading Inactive] In the Tianjin market, #0 zinc ingot mainstream transactions were at 24,760-24,950 yuan/mt, Zijin at 24,880-25,010 yuan/mt, #1 zinc ingot around 24,760-24,870 yuan/mt. Zijin was quoted at a premium of around 0-30 yuan/mt against the 2609 contract, Hulu Zinc at 26,220 yuan/mt, and #0 zinc ingot at a discount of around 30-120 yuan/mt against the 2609 contract. The Tianjin market was quoted at a discount of around 110 yuan/mt against the Shanghai market.

SMM Aug 4: The #0 zinc ingot in the Tianjin market mainly traded at 24,760-24,950 yuan/mt, Zijin traded at 24,880-25,010 yuan/mt, #1 zinc ingot traded near 24,760-24,870 yuan/mt. Zijin against the 2609 contract reported a premium of 0-30 yuan/mt, Hulu zinc ingot reported at 26,220 yuan/mt, #0 zinc ingot against the 2609 contract reported a discount of 30-120 yuan/mt. Tianjin market reported a discount of 110 yuan/mt against Shanghai. As of the close of the morning session, high-priced brand Zijin against the 2609 contract was at 0-30 yuan/mt, Xikuang against the 2609 contract reported a discount of 80 yuan/mt delivered. The refined zinc procurement sentiment in Tianjin today was 1.84, and the shipment sentiment was 2.38. Futures pulled back slightly but remained elevated. Downstream was cautious in purchasing due to high prices, with limited inquiries. Traders' selling premiums were largely stable. Overall market transactions were poor today.

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