【Tianjin Zinc: Zinc Prices Pull Back Significantly, Market Transactions Improve】In the Tianjin market, the mainstream transaction price of #0 zinc ingot ranged from 23,350 to 23,690 yuan/mt, with Zijin trading between 23,470 and 23,740 yuan/mt. The transaction price of #1 zinc ingot was around 23,250 to 23,530 yuan/mt, while Huludao quoted at 26,730 yuan/mt. The premium of #0 zinc ingot against the 2504 contract was around a discount of 20 to a premium of 50 yuan/mt, and Zijin's premium against the 2504 contract was around 100 yuan/mt. The Tianjin market quoted a discount of around 10 yuan/mt against the Shanghai market.
SMM March 31: In the Tianjin market, the mainstream transaction price of #0 zinc ingot was 23,350-23,690 yuan/mt, Zijin traded at 23,470-23,740 yuan/mt, and #1 zinc ingot traded around 23,250-23,530 yuan/mt. Huludao quoted at 26,730 yuan/mt. The premium of #0 zinc ingot against the 2504 contract was around a discount of 20 yuan/mt to a premium of 50 yuan/mt, while Zijin quoted a premium of around 100 yuan/mt against the 2504 contract. The Tianjin market quoted a discount of around 10 yuan/mt compared to the Shanghai market. By the close of the morning session, Xin Zijin quoted a premium of around 50 yuan/mt against the 04 contract, factory deliveries to Xikuang quoted a discount of 0-20 yuan/mt against the 04 contract, Chihong quoted a premium of around 50 yuan/mt against the 04 contract, and the high-priced brand Zijin quoted a premium of around 100 yuan/mt against the 04 contract. Today, zinc prices pulled back significantly, downstream procurement enthusiasm was high, inquiries and price discussions were active, and many companies restocked at low prices. However, smelter traders were reluctant to sell, coupled with limited spot cargo in the market, leading to a slight increase in premiums, and overall transactions improved.
