Tianjin Zinc: Zinc Prices Pull Back Sharply, Downstream Slight Price Fixing [SMM Midday Commentary]

SMM August 19: The mainstream transaction price of #0 zinc ingot in the Tianjin market was 25,100-25,360 yuan/mt, Zijin was transacted at 25,270-25,450 yuan/mt, #1 zinc ingot was transacted at around 25,100-25,290 yuan/mt, Zijin was quoted at a premium of around 50 yuan/mt against the 2609 contract, Huxin was quoted at 26,495 yuan/mt, #0 zinc ingot was quoted at a discount of 40-120 yuan/mt against the 2609 contract, and the Tianjin market was quoted at a discount of around 55 yuan/mt against the Shanghai market. By the end of the morning session, the high-brand Zijin was at a premium of around 50 yuan/mt against the 2609 contract, and Xinzi was quoted at a discount of 70 yuan/mt against the 2609 contract. Today, the purchasing sentiment for refined zinc in the Tianjin area was 1.86, and the shipment sentiment was 2.57. Zinc prices continued to pull back, but downstream users remained on the sidelines, basis trading volume increased slightly, but actual transactions were still limited, traders held their shipment premiums steady, and overall market transactions improved slightly from yesterday.