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SMM Daily Review - 2011/7/19 Zinc Market
Jul 20,2011 09:19CST
smm insight
Source:SMM
On Tuesday, SHFE 1110 zinc contract prices opened higher at RMB 18,575/mt, boosted by LME zinc prices overnight

SHAGNHAI, Jul. 20 (SMM) -- On Tuesday, SHFE 1110 zinc contract prices opened higher at RMB 18,575/mt, boosted by LME zinc prices overnight, and moved between RMB 18,600-18,700/mt during the day. In the afternoon, SHFE 1110 zinc contract prices rose further, with prices closing at RMB 18,770/mt, up RMB 325/mt, or up 1.76%. Trading volumes increased by 33,374 lots to 206,166 lots, and total positions increased by 36,252 lots to 233,014 lots.

SHFE 1110 zinc contract prices opened higher and then fluctuated narrowly. #0 zinc was traded between RMB 18,150-18,200/mt, with discounts of negative RMB 450/mt against SHFE 1110 zinc contract prices. #1 zinc was traded between RMB 18,130-18,150/mt. Downstream buying interest was low, while traders increased purchases due to expanding discounts, with transactions mainly made among traders. Spot discounts remained around negative RMB 450/mt as SHFE zinc prices rose in the afternoon, with traded prices between RMB 18,220-18,230/mt, but with transactions quiet.

 

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