Metals News
SMM Daily Review - 2012/1/20 Zinc Market
smm insight

SHANGHAI, Jan. 21 (SMM) – The most active SHFE zinc contract price opened slightly up at RMB 15,725/mt on Friday. In the morning trading hours, markets remained cautious with prices moving steadily around RMB 15,700/mt. In the afternoon, the most active SHFE zinc contract price rose to touch the intraday high of RMB 15,900/mt due to the increase in domestic stock market. Prices then surrendered some earlier gains as longs liquidated, and finally closed at RMB 15,855/mt, up RMB 230/mt. Positions were down 2,930 lots to 148,000 lots, trading volumes decreased by 9,952 lots to 140,048 lots.

In domestic spot markets, spot discounts over the most active SHFE zinc contract price were between RMB 300-350/mt. Traded prices for #0 zinc were around RMB 15,300/mt, and traded prices for #1 zinc were between RMB 15,150-15,250/mt. Deals were scarce on the last trading before the holiday with most sellers and buyers suspended trading.

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