Tianjin Zinc: Futures Market Mainly Fluctuated, Tianjin Contract Rollover Quotation Today [SMM Midday Review]

Mar 04, 2025, at 3:46 am

[Tianjin Zinc: Futures Rebound, Low Downstream Purchase Willingness]: The mainstream transaction price of #0 zinc ingot in the Tianjin market was 23,600-23,860 yuan/mt, Zijin traded at 23,680-23,900 yuan/mt, and #1 zinc ingot traded around 23,510-23,690 yuan/mt. Huludao was quoted at 27,040 yuan/mt. #0 zinc ordinary was quoted at a discount of 30 to a premium of 80 yuan/mt against the 2504 contract, while Zijin was quoted at a premium of 50-100 yuan/mt against the 2504 contract. The Tianjin market was at a premium of around 10 yuan/mt compared to the Shanghai market. Today, Tianjin region's contract rollover quotations...

SMM, March 4: In the Tianjin market, mainstream transactions of #0 zinc ingot were concluded at 23,600-23,860 yuan/mt, Zijin traded at 23,680-23,900 yuan/mt, and #1 zinc ingot traded around 23,510-23,690 yuan/mt. Huludao was quoted at 27,040 yuan/mt. #0 zinc ingot ordinary brands were quoted at a discount of 30 to a premium of 80 yuan/mt against the 2504 contract, while Zijin was quoted at a premium of 50-100 yuan/mt against the 2504 contract. The Tianjin market maintained a premium of around 10 yuan/mt compared to the Shanghai market. Today, Tianjin region switched to new month quotations. By the midday close, Xinzi was quoted at a premium of 50-80 yuan/mt against the 04 contract, Xikang at a discount of 0-30 yuan/mt, Bailing at a premium of 40-50 yuan/mt, and high-priced brand Zijin at a premium of 60-100 yuan/mt against the 04 contract. Today's futures market was mainly fluctuating. Some downstream enterprises implemented environmental protection-driven production restrictions due to the Two Sessions. Coupled with futures prices not reaching downstream psychological price levels, restocking was mainly driven by rigid demand. Due to good sales last week, spot inventory was relatively low. Some traders, with a firm stance on quotes, offered more dispersed prices, leading to weaker overall market transactions.

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