Spot Zinc Prices In Tianjin to Rise

The spot prices in Tianjin stabilised and lacked ability to rise last week. As of last Friday, the premiums stood at 90-110 yuan/mt for regular brands over SHFE 2306 zinc contract, 130-140 yuan/mt for high-priced Zijin zinc. Discounts of zinc prices in Tianjin narrowed to 60 yuan/mt against Shanghai prices.

Downstream buying interest weakened in the first half of last week due to higher zinc prices and dip buying in the previous week. As zinc prices rebounded in the second half of the week, transaction weakened again, and the shipments were slow. Spot quotes meet resistance.

It is expected that this week, spot quotes will rise as they will be made against SHFE 2307 copper contract and due to the influence of the price spread between the SHFE front-month and SHFE next-month copper contracts.

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