In Tianjin, spot premiums moved rangebound last week. As of last Friday, the premiums stood at 80-100 yuan/mt for regular brands over SHFE 2306 contract, 110-130 yuan/mt for high-priced Zijin zinc. Discounts of zinc prices in Tianjin were 100 yuan/mt against Shanghai prices. Zinc prices fluctuated rangebound in the first half of the week, and downstream companies only maintained rigid demand purchases.
The premiums and discounts did not change much from the previous week. Zinc prices fluctuated significantly in the second half of the week, and downstream enterprises had a risk aversion, so they were relatively cautious in purchasing. The transaction was weak. Zinc prices fell at the end of the week.
Traders mainly sold goods and spot premiums did not rise. Some companies replenished at low prices. It is expected that the market transaction will improve slightly. Spot quotes will move rangebound this week.
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