Tianjin Zinc: Zinc Price Rebounds, Market Turnover Deteriorates [SMM Noon Comment]

Published: Aug 21, 2026 11:29

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[Tianjin Zinc: Zinc Prices Rebounded, Market Transactions Deteriorated] In the Tianjin market, #0 zinc ingot mainly traded at 25,390–25,720 yuan/mt, Zijin traded at 25,580–25,800 yuan/mt, #1 zinc ingot traded at around 25,420–25,640 yuan/mt, Zijin reported a premium of 40–50 yuan/mt against the 2609 contract, Huxin zinc was quoted at 26,955 yuan/mt, and #0 zinc ingot reported a discount of 30–120 yuan/mt against the 2609 contract. Compared to the Shanghai market, the Tianjin market reported a discount of 65 yuan/mt.

SMM August 21: #0 zinc ingot in Tianjin market traded mainly at 25,390~25,720 yuan/mt, Zijin at 25,580~25,800 yuan/mt, #1 zinc ingot at around 25,420~25,640 yuan/mt. Zijin reported a premium of 40~50 yuan/mt against the 2609 contract, Hu zinc reported 26,955 yuan/mt, and #0 zinc ingot reported a discount of 30~120 yuan/mt against the 2609 contract. Tianjin market reported a discount of 65 yuan/mt against Shanghai market. By the close of the morning session, high-end brand Zijin reported a premium of 40~50 yuan/mt against the 2609 contract, while Xikuang reported a discount of 70~80 yuan/mt (delivered) against the 2609 contract. Today, the refined zinc purchase sentiment in Tianjin was 1.85, and the shipment sentiment was 2.53. Futures pulled up, and downstream customers had mostly priced in the past few days, with limited inquiries today. Traders kept premiums stable for shipments, and overall market turnover was weaker than yesterday.

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