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SMM Daily Review - 2012/4/18 Zinc Market
Apr 19,2012 09:35CST
smm insight
Source:SMM
On Wednesday, SHFE three-month zinc contract prices opened higher at RMB 15,470/mt, moving between RMB 15,400-15,450/mt in the morning session and dipping to RMB 15,340/mt.

SHANGHAI, Apr. 19 (SMM) -- On Wednesday, SHFE three-month zinc contract prices opened higher at RMB 15,470/mt, moving between RMB 15,400-15,450/mt in the morning session and dipping to RMB 15,340/mt. Boosted by the Shanghai Composite Index, SHFE three-month zinc contract prices rallied, but as investors left the market at the end of trading, SHFE three-month zinc contract prices finally closed at RMB 15,535/mt, up RMB 140/mt or 0.91%. Trading volumes increased by 70,000 lots to 209,726 lots, and total position decreased by 1,930 lots to 188,920 lots.

In domestic spot markets, discounts of #0 zinc were around RMB 200/mt against SHFE 1207 zinc contract prices, and traded prices were between RMB 15,200-15,250/mt. #1 zinc was traded around RMB 15,200/mt. Transactions were muted as the market was cautious due to volatile zinc prices. Imported zinc was traded around RMB 15,300/mt, while domestic zinc prices were as high as RMB 15,350/mt, with transactions quiet.
 

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