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SMM Daily Review - 2011/9/16 Zinc Market
Sep 19,2011 09:34CST
price review forecast
Source:SMM
Last Friday, SHFE three-month zinc contract prices opened higher at RMB 16,825/mt, moving between RMB 16,800-16,900/mt during the day.

SHAGNHAI, Sept. 19 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened higher at RMB 16,825/mt, moving between RMB 16,800-16,900/mt during the day. In the afternoon, SHFE three-month zinc contract prices dipped to RMB 16,730/mt, but then rebounded to the moving average, closing at RMB 16,845/mt, up RMB 75/mt. Trading volumes were only 195,422 lots, while total positions decreased by 10,438 lots to 202,944 lots.

In domestic spot markets, #0 zinc was traded around RMB 16,700/mt, with discounts of negative RMB 150/mt against SHFE three-month zinc contract prices. At noon, traded prices of #0 zinc were pushed up to RMB 16,750/mt, while discounts remained unchanged, but with transactions quiet. #1 zinc was traded around RMB 16,650/mt. Downstream buying interest was low, despite traders were moving goods actively, leaving transactions quiet.
 

zinc

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