Tianjin Zinc: Market Continues to Decline, Premiums and Discounts Remain Stable

In the Tianjin market, mainstream transactions of 0# zinc ingot were between 22,730-23,100 yuan/mt, Zijin transactions were between 22,760-23,120 yuan/mt, and Huludao was quoted at 26,170 yuan/mt. The premium for ordinary 0# zinc over the 2409 contract was around 20-50 yuan/mt, while Zijin's premium over the 2409 contract was around 50 yuan/mt. The premium in Tianjin compared to Shanghai was about 30 yuan/mt. As of the midday close, the premium for ordinary brand Chihong over the 2409 contract was around 30 yuan/mt, Hongye had no quote for the 2409 contract, Xinzi's premium over 2409 contract was around 50 yuan/mt, and Bailing had no quote for the 2409 contract. The premium for high-end brand Zijin over the 2409 contract was around 50 yuan/mt. The market continued to decline, downstream pricing purchases increased, but due to poor downstream demand, some downstream buyers remained on the sidelines. Premiums and discounts stabilized, and overall market transactions were moderate. Transactions of 1# zinc ingot were around 22,590-22,960 yuan/mt.