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SMM Daily Review - 2011/7/29 Zinc Market
Aug 1,2011 09:07CST
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Last Friday, SHFE 1110 zinc contract prices generally moved between RMB 18,900-19,000/mt in the morning session, but fell to RMB 18,700/mt at noon

SHAGNHAI, Aug. 1 (SMM) -- Last Friday, SHFE 1110 zinc contract prices generally moved between RMB 18,900-19,000/mt in the morning session, but fell to RMB 18,700/mt at noon, dragged down by falling Shanghai Stock Exchange composite index. In the afternoon, SHFE 1110 zinc contract prices moved between RMB 18,700-18,800/mt, and fell further at the end of trading to close at RMB 18,735/mt, down RMB 250/mt, or down 1.32%. Trading volumes decreased by over 50,000 lots to 361,382 lots, and total positions decreased by 13,166 lots to 240,678 lots.

SHFE 1110 zinc contract prices generally moved between RMB 18,900-19,000/mt in the morning session. #0 zinc was traded between RMB 18,450-18,500/mt, with discounts of negative RMB 600-630/mt against SHFE 1110 zinc contract prices. Spot prices fell to RMB 18,250-18,300/mt at noon along with SHFE zinc prices, and with discounts against SHFE 1110 zinc contract prices narrowing to RMB 500-530/mt. #1 zinc was traded between RMB 18,200-18,250/mt. Downstream buyers increased purchases due to falling prices, but the overall transactions were still quiet. #0 zinc was traded around RMB 18,250/mt in the afternoon as SHFE zinc prices fluctuated.

 

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