SHAGNHAI, Oct. 20 (SMM) -- On Wednesday, SHFE three-month zinc contract prices opened at RMB 14,725/mt, moving between RMB 14,650-14,750/mt in the morning session. As LME zinc prices plunged at noon, SHFE three-month zinc contract prices plummeted to an intraday low RMB 14,485/mt at a time. Finally, SHFE three-month zinc contract prices closed at RMB 14,590/mt, down RMB 115/mt, or down 0.78%. Trading volumes increased by nearly 20,000 lots to 265,568 lots, and total positions decreased by 4,726 lots to 183,778 lots.
In domestic spot markets, #0 zinc was traded between RMB 14,850-14,900/mt, with premiums between RMB 150-180/mt against SHFE 1201 zinc contract prices. #1 zinc was traded between RMB 14,800-14,850/mt. Goods supply available in the market was low, so transactions were not as brisk as the previous day despite strong downstream buying interest. Spot premiums rose to RMB 200/mt against SHFE 1201 zinc contract prices, with traded prices between RMB 14,750-14,800/mt.