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SMM Daily Review - 2012/5/4 Zinc Market
May 7,2012 09:10CST
smm insight
Source:SMM
Last Friday, SHFE three-month zinc contract prices opened lower at RMB 15,460/mt and fluctuated around the moving average during the day.

SHANGHAI, May 7 (SMM) -- Last Friday, SHFE three-month zinc contract prices opened lower at RMB 15,460/mt and fluctuated around the moving average during the day. In the afternoon, SHFE three-month zinc contract prices stabilized and touched the 20-day moving average with rising Shanghai Composite Index, and finally closed at RMB 15,540/mt, down RMB 45/mt. Trading volumes decreased further to 20,918 lots, and total position decreased by 3,682 lots to 135,102 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices narrowed to RMB 140-150/mt, with traded prices around RMB 15,360-15,380/mt. Spot prices were very firm. #1 zinc prices were around RMB 15,350/mt. Downstream buyers increased purchases due to falling prices, but goods supply available in the market was tight. 
 

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