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SMM Daily Review - 2011/12/21 Zinc Market
Dec 22,2011 09:15CST
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Source:SMM
On Wednesday, SHFE three-month zinc contract prices opened higher at RMB 14,940/mt, climbing to RMB 14,990/mt in the morning session.

SHAGNHAI, Dec. 22 (SMM) -- On Wednesday, SHFE three-month zinc contract prices opened higher at RMB 14,940/mt, climbing to RMB 14,990/mt in the morning session, but then inched down to move between RMB 14,890-14,945/mt, around the moving average. In the afternoon, SHFE three-month zinc contract prices stood above the 5-day moving average to close at RMB 14,900/mt, up RMB 130/mt. Trading volumes decreased by 11,998 lots, to 167,622 lots, and total position decreased by 4,070 lots to 189,428 lots. Transactions were still quiet.

In domestic spot markets, #0 zinc was traded between RMB 14,800-14,850/mt, with discounts between negative RMB 100-120/mt against SHFE 1203 zinc contract prices. Imported zinc was traded RMB 150-200/mt below SHFE 1203 zinc contract prices, between RMB 14,700-14,750/mt. #1 zinc was traded between RMB 14,750-14,800/mt. Transactions were muted at the end of the year.
 

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