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SMM Daily Review - 2011/1/4 Zinc Market
Jan 5,2012 09:24CST
smm insight
Source:SMM
On Wednesday, SHFE three-month zinc contract prices opened slightly higher at RMB 14,945/mt, and then slid along with falling stock markets.

SHAGNHAI, Jan. 5 (SMM) -- On Wednesday, SHFE three-month zinc contract prices opened slightly higher at RMB 14,945/mt, and then slid along with falling stock markets, with prices finally closing at RMB 14,775/mt, up RMB 25/mt, above the 5-day moving average. Trading volumes decreased by nearly 30,000 lots to 161,098 lots, and total position decreased by 3,492 lots to 206,568 lots.

In domestic spot markets, #0 zinc was traded between RMB 14,700-14,750/mt in the morning session. As SHFE zinc prices inched down later, spot discounts remained between negative RMB 150-170/mt, and traded prices fell to RMB 14,620-14,650/mt. #1 zinc was traded between RMB 14,550-14,600/mt. Transactions were still muted after the holiday.
 

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