Tianjin Zinc: Downstream Cautious of High Prices, Premium Slightly Lowered [SMM Midday Review]

SMM, December 26: In the Tianjin market, mainstream transactions of 0# zinc ingot were concluded at 26,120-26,420 yuan/mt, Zijin traded at 26,360-26,480 yuan/mt, and 1# zinc ingot was traded around 25,660-25,770 yuan/mt. Huludao was quoted at 29,570 yuan/mt. The premium for ordinary 0# zinc against the 2501 contract was around 430-540 yuan/mt, while Zijin was quoted at a premium of 580-600 yuan/mt against the 2501 contract. The Tianjin market showed a premium of 80 yuan/mt compared to the Shanghai market. By the close of the midday session, Xinzi was quoted at 480-500 yuan/mt against the 01 contract, Chihong at 500-560 yuan/mt, Xikang at a premium of 430-450 yuan/mt, and Bailing had no quotes. High-end brand Zijin was quoted at a premium of 580-600 yuan/mt against the 01 contract. The futures market remained in a high-level fluctuation, downstream purchasing enthusiasm was low, traders slightly lowered their quotes, and overall market transactions were poor.