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SMM Daily Review - 2012/5/29 Zinc Market
May 30,2012 09:35CST
smm insight
Source:SMM
On Tuesday, SHFE 1209 zinc contract prices opened at RMB 14,960/mt and fluctuated between RMB 14,935-14,990/mt in the morning session.

SHANGHAI, May 30 (SMM) -- On Tuesday, SHFE 1209 zinc contract prices opened at RMB 14,960/mt and fluctuated between RMB 14,935-14,990/mt in the morning session. As the Shanghai Composite Index surged at noon, SHFE three-month zinc contract prices rose and once touched an intraday high at RMB 15,040/mt and finally closed at RMB 15,020/mt, up RMB 75/mt or 0.5%. Trading volumes decreased by 7,222 lots to 96,348 lots, and total position increased by 10,766 lots to 163,956 lots.

In domestic spot markets, discounts of #0 zinc against SHFE 1208 zinc contract prices were between RMB 120-150/mt, with traded prices between RMB 14,810-14,830/mt. #1 zinc prices were between RMB 14,760-14,800/mt. As SHFE zinc prices rose at noon, #0 zinc prices were pushed up to RMB 14,850/mt, while #1 zinc prices remained unchanged due to unpopularity. Transactions were muted due to uncertainty of prices and cash flow problems at the end of the month. Good supply available was from traders.
 

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