Spot transactions in Tianjin zinc market were lacklustre

In Tianjin, #0 zinc ingot was mostly traded at 21970~22510 yuan/mt, Zijin zinc 22030~22580 yuan/mt, and Huludao zinc 25730 yuan/mt. In terms of premium/discount, regular #0 zinc was quoted with discounts of 70~110 yuan/mt over SHFE 2405 contract, and Zijin zinc with discounts of 0~50 yuan/mt. Prices in Tianjin were 20 yuan/mt higher than Shanghai prices. As of noon, spot discounts of ordinary brand Chihong stood at 70~80 yuan/mt over SHFE May zinc contract, Hongye 70~80 yuan/mt. Discounts were 80 yuan/mt for Xinzi zinc, 100 yuan/mt for Bailing zinc, with no quotes for Kazakhstan zinc. High-priced brand Zijin was offered with discounts of 0~50 yuan/mt. SHFE zinc prices rebounded today, the downstream market had a strong bearish sentiment and traders kept prices firm. The overall market trading was weak. #1 zinc ingot prices are expected to fluctuate between 21960~22470 yuan/mt today.