Tianjin Zinc: Downstream cautious against high prices, spot premiums continue to fall

In Tianjin, #0 zinc ingot was mostly traded at 20830~20970 yuan/mt, Zijin zinc 20850~20990 yuan/mt, and Huludao zinc 24340 yuan/mt. In terms of premium/discount, regular #0 zinc was quoted with discounts of 30~70 yuan/mt over SHFE 2404 contract, and Zijin zinc with discounts of 10~50 yuan/mt. Prices in Tianjin were 50 yuan/mt lower than Shanghai prices. As of noon, spot discounts of ordinary brand Chihong stood at 40~60 yuan/mt over SHFE April zinc contract, Hongye with discounts of 30 yuan/mt. Discounts were 30~60 yuan/mt for Xinzi zinc, with no quotes for Bailing and discounts of 100 yuan/mt for Kazakhstan zinc. High-priced brand Zijin was offered with discounts of 10~50 yuan/mt. Zinc prices rose sharply today, and downstream inquiries decreased significantly. Traders lowered quotes for shipments, and the overall transaction volume remained light. #1 zinc ingot prices were between 20780~20890 yuan/mt today.