Home / Metal News / Copper / SMM Daily Review - 2012/3/22 Zinc Market
SMM Daily Review - 2012/3/22 Zinc Market
Mar 23,2012 09:14CST
smm insight
Source:SMM
On Thursday, SHFE three-month zinc contract prices opened at RMB 15,750/mt, dragged down by LME zinc prices overnight.

SHANGHAI, Mar. 23 (SMM) -- On Thursday, SHFE three-month zinc contract prices opened at RMB 15,750/mt, dragged down by LME zinc prices overnight. Due to lower HSBC China's PMI for March, concerns that domestic demand will improve slowly caused Asian equity markets to plunge. In this context, SHFE three-month zinc contract prices plummeted to RMB 15,650/mt, with prices finally finishing lower at RMB 15,600/mt, down 1.33%.

In domestic spot markets, discounts of #0 zinc were around RMB 250-260/mt against SHFE three-month zinc contract prices, with traded prices around RMB 15,500/mt. Discounts of #0 zinc narrowed to RMB 220-230/mt as SHFE zinc prices fell at noon, and traded prices dropped to RMB 15,420-15,450/mt, with traders actively moving goods. #1 zinc was traded between RMB 15,400-15,450/mt, dip-buying kept transactions brisk.

 

zinc

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news