Tianjin Zinc Market: Downstream buyers remains bearish

Mainstream transaction prices for 0# zinc ingots in Tianjin were 24,770-25,190 yuan/mt, with Zijin trading at 24,840-25,250 yuan/mt, and Huludao quoted at 28,340 yuan/mt. Ordinary 0# zinc was quoted at discounts of 80-100 yuan/mt against the 2406 contract, and Zijin at discounts of 20-30 yuan/mt against the 2406 contract, with Tianjin prices being 20 yuan/mt lower than Shanghai prices. By midday, ordinary brands Chihong were quoted at discounts of 80-100 yuan/mt against the 2406 contract, Hongye at discounts of 80-90 yuan/mt, Xinzi had no quotes, Bailing at discounts of 90-100 yuan/mt, and Kazakhstan zinc had no quotes, while high-end brand Zijin was quoted at discounts of 20-30 yuan/mt against the 06 contract. Today's market surged and then fell back, but prices remained high, with downstream sentiment still bearish. Restocking was mainly on a need basis, with few quotes from traders, and overall market transactions showed no improvement. 1# zinc ingots traded at around 24,750-25,160 yuan/mt.