SHAGNHAI, Sept. 28 (SMM) -- On Tuesday, SHFE three-month zinc contract prices opened higher at RMB 14,925/mt, boosted by LME zinc prices overnight, touching RMB 15,000/mt in the morning trading but falling immediately below the moving average. In the afternoon, SHFE three-month zinc contract prices rallied to RMB 15,000/mt, driven up by the Shanghai Composite Index, with prices finally closing at RMB 14,975/mt, up RMB 185/mt. Trading volumes decreased by nearly 40,000 lots to 544,936 lots, and total positions decreased by 14,010 lots to 216,132 lots.
In domestic spot markets, #0 zinc was traded between RMB 14,850-14,900/mt, with discounts between negative RMB 20-30/mt against SHFE 1112 zinc contract prices. #1 zinc was traded around RMB 14,850/mt. Downstream buyers were still cautious ahead of China’s National Day holiday.