Tianjin’s refined zinc market saw moderate trading on Oct. 13 as futures prices retreated and downstream buyers remained reluctant to build inventories. Mainstream transactions for #0 zinc ingot were reported at 25,710-26,030 yuan per metric ton, while Zijin trades reached 25,870-26,100 yuan and #1 zinc changed hands near 26,050-26,160 yuan.
Zijin was offered at a 130-150 yuan premium to the Shanghai zinc 2611 contract. #0 zinc was quoted from a 70 yuan premium to a 30 yuan discount against that contract, while Tianjin material traded at about a 40 yuan discount to Shanghai. Huxin was quoted at 27,380 yuan per ton.
The most-traded SHFE zinc 2611 contract opened at 25,995 yuan per ton, reached 26,105 yuan and later fell to 25,950 yuan before settling at 25,980 yuan, down 135 yuan, or 0.
Low price-fixing activity and expectations of further weakness limited inquiries and transactions even as spot availability remained tight.
Available Tianjin material was concentrated mainly in warrants, and traders kept shipment premiums broadly stable.