Tianjin Zinc: Traders Actively Made Shipments, Leading to Brisk Trades in the Spot Market

SHANGHAI, Sep 27 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 24,590-24,810 yuan/mt, Zijin zinc 24,690-24,910 yuan/mt, and Huludao zinc 29,370 yuan/mt. In terms of premium/discount, #0 zinc was in premiums of 400-480 yuan/mt over SHFE 2210 contract, Zijin zinc 500-580 yuan/mt, and 200 yuan/mt over Shanghai. The zinc prices remained rangebound at lows today. The premiums were largely stable, and the quotations fell into a large price range. As of noon of September 27, spot premiums of ordinary brand Bailing zinc stood at 400-450 yuan/mt over SHFE 2210 contract, Hongye zinc 400-480 yuan/mt, high-priced Zijin zinc 500-580 yuan/mt, and there were no quotes of Hongchi zinc. HZ (free from ex-works) was out of stock. At the beginning, the traders who had enough stocks were relatively firm to their prices in view of costs. However, the poor trades in the market prompted them to gradually lower the premiums to make shipments. Downstream enterprises were busy stockpiling for the holiday, while some delayed setting the prices due to bearish sentiment. The transactions were brisk as a whole. 1# zinc ingot was traded between 24,430-24,580 yuan/mt.