Zinc in Tianjin: Spot Premiums Are Resilient amid Tight Spot Supply

SHANGHAI, Aug 4 (SMM) - In Tianjin, #0 zinc ingot was mostly traded at 24,130-24,300 yuan/mt, Zijin zinc 24,550~24,650 yuan/mt, and Huludao zinc 28,870 yuan/mt. In terms of premium/discount, #0 zinc was in premiums of 130-200 yuan/mt over SHFE 2208 contract, Zijin zinc 550 yuan/mt, and 80 yuan/mt over Shanghai. The zinc prices rose slightly today, and the premiums remained largely stable. And the quotations were not concentrated.

As of noon of August 4, spot premiums of Bailing were in premiums of 130-200 yuan/mt over SHFE 2208, Hongye 130-200 yuan/mt, Chihong 160 yuan/mt, and there were no quotes of high-priced Zijin zinc. HZ (free from ex-works) was out of stock. Zinc prices remained volatile today with few sources available in the market. Quotes from the traders were resilient, and the downstream purchased on rigid demand. On the whole, the transaction in the Tianjin market was only modest. #1 zinc ingot generally traded around 24,080-24,190 yuan/mt.