Home / Metal News / Copper / SMM Daily Review - 2011/8/16 Zinc Market
SMM Daily Review - 2011/8/16 Zinc Market
Aug 17,2011 09:28CST
price review forecast
Source:SMM
On Tuesday, SHFE three-month zinc contract prices opened above RMB 17,000/mt, then plunged below RMB 17,000/mt in the morning session

SHAGNHAI, Aug. 17 (SMM) -- On Tuesday, SHFE three-month zinc contract prices opened above RMB 17,000/mt, then plunged below RMB 17,000/mt in the morning session on speculation that China’s central bank will raise interest rates, with prices moving between RMB 16,700-16,800/mt in the afternoon. At the end of trading, SHFE three-month zinc contract prices closed the day with declines at RMB 16,600/mt, down RMB 585/mt, or down 3.4%. Total positions increased by 61,892 lots to 241,456 lots, and trading volumes increased by 280,000 lots to 184,442 lots, with short momentum stronger.

In domestic spot markets, as SHFE three-month zinc contract prices fell below RMB 17,000/mt after opening, traded prices of #0 zinc dropped to RMB 16,600/mt, down from RMB 16,700/mt, with discounts remaining at negative RMB 200/mt against SHFE 1111 zinc contract prices. #1 zinc was traded between RMB 16,550-16,600/mt. The market was cautious at fluctuating zinc prices, leaving transactions quiet. Market confidence was depressed as SHFE zinc prices fell in the afternoon.

 

Copyright © SMM. All Rights Reserved

None of this material may be used for any commercial or public use in any forms or means, without the prior written consent of SMM. For reproduction issue, please contact us by email: service.en@smm.cn


 

zinc

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news