SHAGNHAI, Oct. 12 (SMM) -- On Tuesday, SHFE three-month zinc contract prices opened higher at RMB 15,395/mt, touching RMB 15,415/mt in the morning session. Dragged down by LME zinc prices and the Shanghai composite index, SHFE three-month zinc contract prices inched down to RMB 15,070/mt, with prices closing at RMB 15,135/mt. Trading volumes increased by over 20,000 lots to 314,892 lots, and total positions increased by 14,356 lots to 215,372 lots.
In domestic spot markets, #0 zinc was traded between RMB 15,250-15,300/mt in the morning session, with discounts between negative RMB 20-30/mt against SHFE 1112 zinc contract prices. Spot prices fell to RMB 15,220-15,250/mt at noon with SHFE zinc prices, with discounts narrowing to RMB 0/mt against SHFE 1112 zinc contract prices. #1 zinc was traded between RMB 15,200-15,250/mt. Downstream buyers took a wait-and-see attitude due to weakened zinc prices, keeping transactions muted. Spot premiums against SHFE 1112 zinc contract prices expanded to RMB 40/mt in the afternoon, with quotations around RMB 15,180/mt.