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SMM Daily Review - 2011/7/15 Zinc Market
Jul 18,2011 09:12CST
smm insight
Source:SMM
Last Friday, SHFE 1109 zinc contract prices moved between RMB 18,250-18,350/mt

SHAGNHAI, Jul. 18 (SMM) -- Last Friday, SHFE 1109 zinc contract prices moved between RMB 18,250-18,350/mt around the moving average, with prices falling to RMB 18,160/mt once in the morning session, and then rallying to the moving average, and falling further at the end of trading. Finally, SHFE 1109 zinc contract prices closed at RMB 18,150/mt, down RMB 155/mt, or down 0.85%, above the 5-day moving average. Trading volumes decreased by nearly 50,000 lots to 120,656 lots, and total positions decreased by 6,524 lots to 156,478 lots.

SHFE 1109 zinc contract prices fluctuated narrowly above RMB 18,000/mt. #0 zinc was traded between RMB 17,900-17,950/mt, with discounts of negative RMB 280-300/mt against SHFE 1109 zinc contract prices, with some brands traded as high as RMB 17,950/mt but limitedly. #1 zinc was traded between RMB 17,850-17,900/mt, with mainstream traded prices around RMB 17,880/mt. Downstream buying interest was low as the delivery date nears, leaving the overall transactions quiet.

 

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