SHAGNHAI, Oct. 26 (SMM) -- On Tuesday, SHFE three-month zinc contract prices opened higher at RMB 15,140/mt, fluctuating between RMB 14,800-15,000/mt in the morning session. Boosted by SHFE copper prices, SHFE three-month zinc contract prices surged to RMB 15,500/mt at noon, fluctuating between RMB 15,200-15,300/mt, and rolled back previous gains to close at RMB 15,035/mt, up RMB 305/mt. Trading volumes increased by 420,000 lots to 958,338 lots, and total positions increased by 1,974 lots to 219,600 lots.

In spot markets, #0 zinc was traded around RMB 14,950/mt, with premiums of RMB 50/mt against SHFE 1201 zinc contract prices, and was traded between RMB 15,200-15,250/mt at noon as SHFE zinc prices rose. #1 zinc was traded between RMB 15,150-15,200/mt, but with transactions quiet. In the afternoon, spot premiums against SHFE 1201 zinc contract prices were between RMB 20-30/mt, causing some speculators to increase purchasing, but with transactions still muted.