Spot Zinc Prices in Tianjin to Move Rangebound

SHANGHAI, Mar 27 (SMM) - The spot discounts in Tianjin stabilised last week. As of last Friday, the discounts stood at 20-50 yuan/mt for regular brands over SHFE 2304 contract, 0-10 yuan/mt for high-priced Zijin zinc over SHFE 2304 zinc and 40 yuan/mt against Shanghai market. Spot premiums dropped early last week when zinc prices rebounded. Afterwards, the traders' quotes stood stable thanks to downstream companies' high purchasing volume a week earlier even though zinc prices fell. Spot transactions were modest as downstream enterprises in Hebei were hindered by the environmental protection-related production restrictions and the companies held sufficient raw material inventories. Last Friday, zinc prices rose, and the premiums dropped slightly. Spot discounts will move rangebound this week.