Tianjin Zinc: Futures Market Continues to Rise, Poor Buying Sentiment in the Market [SMM Midday Review]

Mar 14, 2025, at 1:35 pm

[Tianjin Zinc: Futures Market Continues to Rise, Poor Buying Sentiment in the Market]: Mainstream transactions of #0 zinc ingot in the Tianjin market were at 24,090-24,280 yuan/mt, Zijin traded at 24,150-24,300 yuan/mt, and #1 zinc ingot traded around 24,010-24,140 yuan/mt. Huludao was quoted at 27,580 yuan/mt. Ordinary #0 zinc ingot was quoted at a discount of 40 yuan/mt to a premium of 30 yuan/mt against the 2504 contract, while Zijin was quoted at a premium of 20-50 yuan/mt against the 2504 contract. The Tianjin market was quoted at a discount of 10 yuan/mt compared to the Shanghai market.

SMM March 14 News: In the Tianjin market, mainstream transactions of #0 zinc ingot were at 24,090-24,280 yuan/mt, Zijin traded at 24,150-24,300 yuan/mt, and #1 zinc ingot traded around 24,010-24,140 yuan/mt. Huludao was quoted at 27,580 yuan/mt. #0 zinc ordinary was quoted at a discount of 40 to a premium of 30 yuan/mt against the 2504 contract, while Zijin was quoted at a premium of 20-50 yuan/mt against the 2504 contract. The Tianjin market was quoted at a discount of 10 yuan/mt compared to the Shanghai market. As of the midday close, New Zijin was quoted at a premium of 10-30 yuan/mt against the 04 contract, Xikang was quoted at a discount of 10-40 yuan/mt, Bailing was quoted at 40 yuan/mt, and high-priced brand Zijin was quoted at a premium of 20-50 yuan/mt against the 04 contract. The futures market continued to rebound today, but downstream buyers showed strong resistance to high prices. There was limited restocking for rigid demand, while most downstream buyers remained in a wait-and-see mode, with major factories focusing on expediting long-term contracts. Although traders were actively selling, the market's buying sentiment was weak, leading to a reduction in premiums to facilitate sales. Overall, market transactions were sluggish.

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