Tianjin Zinc: Zinc Prices Slightly Pull Back, Downstream Purchasing Enthusiasm Increases. In the Tianjin market, #0 zinc ingot mainly traded at 23,640 to 23,850 yuan/mt, Zijin traded at 23,710 to 23,880 yuan/mt, and #1 zinc ingot traded around 23,540 to 23,690 yuan/mt. Huludao was quoted at 27,120 yuan/mt. For #0 zinc, the discount against the 2504 contract was 20 to 50 yuan/mt, while for Zijin, the premium against the 2504 contract was 50 to 80 yuan/mt. The Tianjin market was about 10 yuan/mt lower than the Shanghai market.
SMM March 20: In the Tianjin market, #0 zinc ingot traded mainly at 23,640 to 23,850 yuan/mt, Zijin traded at 23,710 to 23,880 yuan/mt, and #1 zinc ingot traded around 23,540 to 23,690 yuan/mt. Huludao was quoted at 27,120 yuan/mt. For #0 zinc, the premium against the 2504 contract ranged from a discount of 20 to a premium of 50 yuan/mt, while Zijin against the 2504 contract was at a premium of 50 to 80 yuan/mt. The Tianjin market was about 10 yuan/mt lower than the Shanghai market. By the close of the morning session, Xinzi against the 04 contract was at a premium of 40 to 50 yuan/mt, factory-delivered Xikuang Jinli against the 04 contract was at a discount of 0 to 10 yuan/mt, Bailing delivery against the 04 contract was around 60 yuan/mt, and the high-priced brand Zijin against the 04 contract was at a premium of 50 to 80 yuan/mt. Zinc prices continued to pull back today, reaching a level more acceptable to downstream buyers. Purchase willingness increased, with some downstream players restocking on dips. Coupled with limited arrivals in the Tianjin area recently, traders had a firm stance on quotes, leading to an upward trend in premiums. Overall market transactions improved compared to yesterday.
