Tianjin Zinc: Futures Market Pulled Back, While Market Transactions Remained Moderate [SMM Midday Review]

SMM January 6 News: In the Tianjin market, mainstream transactions of 0# zinc ingot were concluded at 24,940-25,150 yuan/mt, Zijin transactions at 25,000-25,170 yuan/mt, and 1# zinc ingot transactions at around 24,520-24,690 yuan/mt. Huludao was quoted at 28,410 yuan/mt. Ordinary 0# zinc was quoted at a premium of 300-350 yuan/mt against the 2501 contract, while Zijin was quoted at a premium of 360-370 yuan/mt against the 2501 contract. The Tianjin market showed a discount of 40 yuan/mt compared to the Shanghai market. As of the midday close, Xinzi was quoted at 300-350 yuan/mt against the 01 contract, Chihong at 300-350 yuan/mt against the 01 contract, Xikang at 180 yuan/mt against the 01 contract, and Bailing had no quotes. High-end brand Zijin was quoted at a premium of 360-370 yuan/mt against the 01 contract. The futures market pulled back today, but downstream players maintained a bearish sentiment, showing weak purchase willingness. In the early session, traders held firm on their offers, but later slightly lowered the premiums. Overall, transactions were moderate.