Metals News
SMM Daily Review - 2012/1/13 Zinc Market
smm insight

SHAGNHAI, Jan. 16 (SMM) -- Last Friday, SHFE 1203 zinc contract prices opened higher at RMB 15,265/mt, with prices fluctuating around the moving average during the day, and dipped to an intraday low at RMB 15,160/mt at noon. As the end of trading, SHFE 1203 zinc contract prices rose further to close at RMB 15,290/mt, up RMB 190/mt, or 1.26%, above the moving average. Trading volumes decreased by 60,000 lots to 116,710 lots, and total position decreased by 23,450 lots to 143,222 lots. SHFE 1204 zinc contract became the most actively traded, with positions increasing by 10,948 lots.
In domestic spot markets, SHFE three-month zinc contract prices opened higher but fell slightly at noon, and #0 zinc was traded between RMB 14,900-14,950/mt, with spot discounts between RMB 250-300/mt against SHFE three-month zinc contract prices. #1 zinc was traded between RMB 14,850-14,900/mt. Downstream buying interest did not improve despite SHFE zinc prices fell at noon, with transactions quiet. Spot discounts expanded to RMB 320/mt in the afternoon, with some traders buying spot goods and selling future contracts, but transactions did not improve.

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