SMM Daily Review - 2012/5/31 Zinc Market

SMM Insight 09:03:45AM Jun 01, 2012 Source:SMM

SHANGHAI, Jun. 1 (SMM) -- On Thursday, SHFE 1209 zinc contract prices opened at RMB 14,795/mt and fluctuated between RMB 14,700-14,800/mt in the morning session. As the US dollar index fell in the midday, SHFE three-month zinc contract prices touched an intraday high at RMB 14,845/mt, but sapped due to weakening Shanghai Composite Index, with prices closing at RMB 14,795/mt, down RMB 115/mt or 0.77%. Trading volumes decreased by 14,220 lots to 79,814 lots, and total position increased by 2,010 lots to 171,130 lots.

In domestic spot markets, discounts of #0 zinc against SHFE 1209 zinc contract prices were between RMB 80-110/mt, with traded prices between RMB 14,700-14,720/mt. #1 zinc prices were between RMB 14,660-14,700/mt. Transactions were muted as traders were unwilling to move goods whilst downstream buying interest was also low.
 

Key Words:  zinc 

SMM Daily Review - 2012/5/31 Zinc Market

SMM Insight 09:03:45AM Jun 01, 2012 Source:SMM

SHANGHAI, Jun. 1 (SMM) -- On Thursday, SHFE 1209 zinc contract prices opened at RMB 14,795/mt and fluctuated between RMB 14,700-14,800/mt in the morning session. As the US dollar index fell in the midday, SHFE three-month zinc contract prices touched an intraday high at RMB 14,845/mt, but sapped due to weakening Shanghai Composite Index, with prices closing at RMB 14,795/mt, down RMB 115/mt or 0.77%. Trading volumes decreased by 14,220 lots to 79,814 lots, and total position increased by 2,010 lots to 171,130 lots.

In domestic spot markets, discounts of #0 zinc against SHFE 1209 zinc contract prices were between RMB 80-110/mt, with traded prices between RMB 14,700-14,720/mt. #1 zinc prices were between RMB 14,660-14,700/mt. Transactions were muted as traders were unwilling to move goods whilst downstream buying interest was also low.
 

Key Words:  zinc