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SMM Daily Review - 2011/11/4 Zinc Market
Nov 7,2011 09:24CST
price review forecast
Source:SMM
Last Friday, SHFE three-month zinc contract prices opened higher at RMB 15,305/mt, boosted by LME zinc prices overnight.

SHAGNHAI, Nov. 7 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened higher at RMB 15,305/mt, boosted by LME zinc prices overnight, and moved between RMB 15,350-15,450/mt in the morning session. SHFE three-month zinc contract prices fell slightly at noon as a large number of longs left the market with profit-taking, and then rose in the afternoon to close at RMB 15,550/mt, up RMB 365/mt, or 2.4%. Trading volumes increased by over 30,000 lots to 357,116 lots, and total positions decreased by 10,004 lots to 206,364 lots.

In domestic spot markets, #0 zinc was traded between RMB 15,380-15,420/mt, with discounts of negative RMB 30-50/mt against SHFE 1201 zinc contract prices. As SHFE zinc prices fell at noon, and due to some traders buying spot goods and selling SHFE zinc contracts, spot goods edged up to levels close to or RMB 20/mt higher than SHFE zinc prices. #1 zinc was traded between RMB 15,350-15,400/mt. Transactions were mainly made among traders.
 

SHFE zinc

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