SHANGHAI, Aug. 27 (SMM) – SHFE 1510 zinc contract prices opened at RMB 14,555/mt Tuesday evening, and closed at RMB 14,565/mt, up RMB 175/mt or 1.22%. SHFE 1510 zinc contract prices dipped to RMB 14,405/mt on Wednesday then rallied to RMB 14,450-14,500/mt with rising China’s A-share, and closed at RMB 14,445/mt, up RMB 55/mt or 0.38%. Trading volumes decreased 67,038 to 103,610 lots, and total positions decreased 1,596 to 127,420.
#0 zinc prices were between RMB 14,730-14,830/mt, RMB 280-380/mt above SHFE 1510 zinc contract prices. #1 zinc supply was tight, with prices of RMB 14,650-14,670/mt. Spot premiums of imported #0 zinc were RMB 0-100/mt against SHFE 1510 zinc contract prices. Spot premiums weakened as domestic zinc supply increases, leaving domestic zinc prices close to imported zinc. Traders sold proactively in the afternoon, weighing down spot premiums to RMB 270-320/mt against SHFE 1510 zinc contract prices, and with traded prices between RMB 14,720-14,780/mt in the afternoon.