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SMM Daily Review - 2011/12/15 Zinc Market
Dec 16,2011 09:04CST
smm insight
Source:SMM
On Thursday, SHFE 1203 zinc contract became the most actively traded, with prices opening significantly lower at RMB 14,520/mt.

SHAGNHAI, Dec. 16 (SMM) -- On Thursday, SHFE 1203 zinc contract became the most actively traded, with prices opening significantly lower at RMB 14,520/mt, and gaining back previous losses to touch RMB 14,915/mt as a large number of longs entered the market in the morning session. In the afternoon, SHFE three-month zinc contract prices fell to the moving average and finally close at RMB 14,715/mt, down RMB 410/mt. Trading volumes increased by nearly 120,000 lots to 279,086 lots, and total position increased by 7,898 lots to 167,246 lots.

In domestic spot markets, spot zinc prices were RMB 20-30/mt below SHFE three-month zinc contract prices in the morning session, with #0 zinc traded between RMB 14,650-14,700/mt. As SHFE zinc prices rose, spot discounts expanded to negative RMB 50-60/mt, with traded prices rising to RMB 14,700-14,750/mt. But transactions were mainly made in the morning session, and quiet when prices rose. Imported zinc were RMB 90/mt below SHFE 1202 zinc contract prices, traded between RMB 14,650-14,700/mt, close to #1 zinc prices.
 

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