Zinc in Tianjin: Spot Transactions Muted amid Rising SHFE Zinc and Expanding SHFE Contract Spread

SHANGHAI, Oct 10 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 24,900-25,290 yuan/mt, Zijin zinc 24,930-25,320 yuan/mt, and Huludao zinc 29,990 yuan/mt. In terms of premium/discount, #0 zinc was in premiums of 300-380 yuan/mt over SHFE 2210 contract, Zijin zinc 330-410 yuan/mt, and 0 yuan/mt over Shanghai. The zinc prices were on the rise today, and the premiums were largely stable. And the quotations fell into a large price range.

As of noon of October 10, spot premiums of Hongye stood at 300-340 yuan/mt over SHFE 2210, Chihong 300-330 yuan/mt, and high-priced Zijin 330-360 yuan/mt; there were no quotes for regular brand Bailing. HZ (free from ex-works) was out of stock. SHFE zinc prices rose today, and SHFE 2210 and 2211 contract spread expanded to 700 yuan/mt. The traders still quoted against SHFE 2210. The trading market was lacklustre today amid centralised arrivals during the holiday, hence the traders lowered the premiums to promote the sales. #1 zinc ingot generally traded between 24,770-25,090 yuan/mt.