Tianjin zinc market: premiums remain weak amid poor downstream consumption

In Tianjin, #0 zinc ingot was mostly traded at 20980~21160 yuan/mt, Zijin zinc 21000~21200 yuan/mt, and Huludao zinc 24550 yuan/mt. In terms of premium/discount, regular #0 zinc was quoted with discounts of 70~100 yuan/mt over SHFE 2404 contract, and Zijin zinc with discounts of 30~80 yuan/mt. Prices in Tianjin were 40 yuan/mt lower than Shanghai prices. As of noon, spot discounts of ordinary brand Chihong stood at 70~100 yuan/mt over SHFE April zinc contract, Hongye 60 yuan/mt. Discounts were 70~80 yuan/mt for Xinzi zinc, with not quotes for Bailing and Kazakhstan zinc. High-priced brand Zijin was offered with discounts of 30~80 yuan/mt. Downstream companies are still bearish on zinc prices, and given poor consumption, traders lowered premiums for shipments. Transactions were quiet. #1 zinc ingot prices were 20960~21120 yuan/mt today.