SMM Daily Review - 2012/6/12 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2012/6/12 Zinc Market

SMM Insight 09:23:17AM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) -- On Tuesday, SHFE 1209 zinc contract prices opened lower at RMB 14,770/mt and touched and fluctuated around the 5-day moving average during the morning session. As the Shanghai Composite Index rose in the afternoon, SHFE 1209 zinc contract prices were up slightly to an intraday high of RMB 14,790/mt, and then fell to RMB 14,750-14,770/mt, and finally closed at RMB 14,760/mt, down RMB 145 or 0.97%. Trading volumes decreased by 42,060 lots to 52,152 lots, and total position increased by 2,788 lots to 170,052 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices were RMB 65-85/mt, with traded prices between RMB 14,670-14,690/mt. #1 zinc was quoted between RMB 14,630-14,660/mt, with discounts narrowing. Spot discounts were between RMB 100-120/mt. Traders were holding goods due to losses, while smelters reduced goods supply as zinc prices fell, leaving transactions modest.
 

Key Words:  SHFE zinc prices  

SMM Daily Review - 2012/6/12 Zinc Market

SMM Insight 09:23:17AM Jun 13, 2012 Source:SMM

SHANGHAI, Jun. 13 (SMM) -- On Tuesday, SHFE 1209 zinc contract prices opened lower at RMB 14,770/mt and touched and fluctuated around the 5-day moving average during the morning session. As the Shanghai Composite Index rose in the afternoon, SHFE 1209 zinc contract prices were up slightly to an intraday high of RMB 14,790/mt, and then fell to RMB 14,750-14,770/mt, and finally closed at RMB 14,760/mt, down RMB 145 or 0.97%. Trading volumes decreased by 42,060 lots to 52,152 lots, and total position increased by 2,788 lots to 170,052 lots.

In domestic spot markets, discounts of #0 zinc against SHFE three-month zinc contract prices were RMB 65-85/mt, with traded prices between RMB 14,670-14,690/mt. #1 zinc was quoted between RMB 14,630-14,660/mt, with discounts narrowing. Spot discounts were between RMB 100-120/mt. Traders were holding goods due to losses, while smelters reduced goods supply as zinc prices fell, leaving transactions modest.
 

Key Words:  SHFE zinc prices