Metals News
SMM Daily Review - 2011/1/5 Zinc Market
smm insight

SHAGNHAI, Jan. 6 (SMM) -- On Thursday, SHFE three-month zinc contract prices continued to fluctuate, with both longs and shorts leaving the market ahead of the Chinese New Year holiday. Finally, SHFE three-month zinc contract prices closed at RMB 14,865/mt, up RMB 20/mt. Trading volumes increased by 3,000 lots to 164,172 lots, and total position decreased by 5,292 lots to 201,276 lots.

In domestic spot markets, #0 zinc was traded between RMB 14,650-14,700/mt in the morning session, with discounts between negative RMB 130-150/MT. As SHFE zinc prices rose in the midday, spot discounts expanded to negative RMB 150-170/mt, and #1 zinc was traded between RMB 14,600-14,650/mt. Some downstream producers have cut output or suspended production for holiday, so transactions were muted.

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