SMM Daily Review - 2012/6/6 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2012/6/6 Zinc Market

SMM Insight 09:25:47AM Jun 07, 2012 Source:SMM

SHANGHAI, Jun. 7 (SMM) -- On Wednesday, SHFE 1209 zinc contract prices opened higher at RMB 14,780/mt and finally closed at RMB 14,815/mt, up RMB 130/mt or 0.89%. Trading volumes increased by 488 lots to 101,882 lots, and total position increased by 4,632 lots to 170,726 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices were between RMB 50-70/mt, with traded prices between RMB 14,680-14,700/mt. #1 zinc was quoted between RMB 14,670-14,690/mt, but transactions were muted. As SHFE zinc prices rebounded, traders actively moved goods, while downstream buying interest was low, keeping transactions modest.
 

Key Words:  zinc 

SMM Daily Review - 2012/6/6 Zinc Market

SMM Insight 09:25:47AM Jun 07, 2012 Source:SMM

SHANGHAI, Jun. 7 (SMM) -- On Wednesday, SHFE 1209 zinc contract prices opened higher at RMB 14,780/mt and finally closed at RMB 14,815/mt, up RMB 130/mt or 0.89%. Trading volumes increased by 488 lots to 101,882 lots, and total position increased by 4,632 lots to 170,726 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices were between RMB 50-70/mt, with traded prices between RMB 14,680-14,700/mt. #1 zinc was quoted between RMB 14,670-14,690/mt, but transactions were muted. As SHFE zinc prices rebounded, traders actively moved goods, while downstream buying interest was low, keeping transactions modest.
 

Key Words:  zinc