SHANGHAI, May 6 (SMM) – SHFE 1507 zinc contract prices opened at RMB 17,210/mt Monday evening, then dipped to RMB 17,115/mt, and fluctuated around RMB 17,115/mt, and closed at RMB 17,170/mt, down RMB 10/mt or 0.06%. SHFE 1507 zinc contract prices opened at RMB 17,155/mt on Tuesday, then fell to RMB 17,015/mt at one point, and rallied in the afternoon, and closed at RMB 17,070/mt, down RMB 110/mt or 0.64%. Trading volumes decreased 23,404 to 146,900 lots, and total positions decreased 808 to 161,892. SHFE 1507 zinc contract prices are expected to stay high this evening.
#0 zinc prices were between RMB 16,960-17,010/mt, RMB 140-100/mt below SHFE 1507 zinc contract prices. #1 zinc was traded between RMB 16,900-16,930/mt. SHFE 1507 zinc contract prices fell all the way after opening, causing spot discounts to narrow RMB 20/mt. Prices spread between Shuangyan and other zinc brands contracted slightly. SHFE 1507 zinc contract prices dipped to RMB 17,020/mt at one point at the end of trading, with spot discounts narrowing to RMB 100/mt at one point. Smelters sold actively in the morning, and some cargo holders also moved goods proactively due to narrowing spot discounts, leading to ample supply. Trading between traders was brisk, but downstream buyers purchased as needed, leaving overall transactions lackluster. Shuangyan #0 zinc prices were RMB 16,990-17,010/mt, RMB 120-100/mt below SHFE 1507 zinc contract prices. Yuguang and Huize #0 zinc prices were RMB 16,970-16,990/mt, RMB 140-120/mt below SHFE 1507 zinc contract prices. Qilin, Qinxin and Jiulong #0 zinc prices were RMB 16,960-16,980/mt, with spot discounts of RMB 140-130/mt against SHFE 1507 zinc contract prices. Baohui, SMC and Tongguan #0 zinc prices were RMB 16,960-16,970/mt, with spot discounts of RMB 150/mt against SHFE 1507 zinc contract prices. Namibia’s #0 zinc prices were RMB 16,920-16,930/mt, with spot discounts of RMB 200/mt against SHFE 1507 zinc contract prices. SHFE 1507 zinc contract prices fluctuated around RMB 17,070/mt in the afternoon, with spot discounts narrowing to RMB 120-100/mt.
