SHANGHAI, Sept. 30 (SMM) – SHFE 1601 nickel contract prices opened low at RMB 77,210/mt Monday evening, and plunged later the day, with prices closing at RMB 76,020/mt. SHFE 1601 nickel contract prices opened at RMB 76,040/mt on Tuesday, then dipped to RMB 75,630/mt, but rallied to RMB 75,700-76,200/mt. In the afternoon, SHFE 1601 nickel contract prices held firm at one point, but dropped near the end of trading, and closed at RMB 75,540/mt, down 2.42%. Trading volumes were up 262,000 to 647,000 lots. Total positions decreased 282 to around 280,000.
#0 zinc prices were between RMB 13,670-13,950/mt, RMB 200-420/mt above SHFE 1511 zinc contract prices. #1 zinc traded at RMB 13,490-13,550/mt. Smelters held back goods on low zinc prices, reducing supplies of imported and domestic zinc. Traders sold proactively, and downstream buyers replenished stocks actively ahead of the holiday. #0 zinc prices were between RMB 13,650-13,910/mt in the afternoon, with trading brisk.