SMM Daily Review - 2012/7/26 Zinc Market-Shanghai Metals Market

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SMM Daily Review - 2012/7/26 Zinc Market

Price Review & Forecast 09:29:33AM Jul 27, 2012 Source:SMM

SHANGHAI, Jul. 27 (SMM) -- On Thursday, SHFE 1211 zinc contract prices opened at RMB 14,460/mt and fell slightly to touch an intraday low at RMB 14,420/mt, then fluctuated between RMB 14,440-14,460/mt. In the afternoon, SHFE 1211 zinc contract prices plummeted and then rallied to touch RMB 14,495/mt, and finally closed at RMB 14,470/mt, up RMB 20/mt or 0.14%. Trading volumes decreased by 52,506 lots to 68,428 lots, and total position decreased by 3,622 lots to 166,818 lots.

In domestic spot markets, discounts of #0 zinc were between RMB 30-40/mt in the morning session, with traded prices between RMB 14,420-14,450/mt, but transactions limited at the low end of price range. Imported zinc was traded between RMB 14,370-14,380/mt, and #1 zinc was traded between RMB 14,370-14,380/mt. Inquiries from downstream buyers were brisk, but purchasing was limited. Transactions were mainly made among traders.
 

Key Words:  zinc prices  

SMM Daily Review - 2012/7/26 Zinc Market

Price Review & Forecast 09:29:33AM Jul 27, 2012 Source:SMM

SHANGHAI, Jul. 27 (SMM) -- On Thursday, SHFE 1211 zinc contract prices opened at RMB 14,460/mt and fell slightly to touch an intraday low at RMB 14,420/mt, then fluctuated between RMB 14,440-14,460/mt. In the afternoon, SHFE 1211 zinc contract prices plummeted and then rallied to touch RMB 14,495/mt, and finally closed at RMB 14,470/mt, up RMB 20/mt or 0.14%. Trading volumes decreased by 52,506 lots to 68,428 lots, and total position decreased by 3,622 lots to 166,818 lots.

In domestic spot markets, discounts of #0 zinc were between RMB 30-40/mt in the morning session, with traded prices between RMB 14,420-14,450/mt, but transactions limited at the low end of price range. Imported zinc was traded between RMB 14,370-14,380/mt, and #1 zinc was traded between RMB 14,370-14,380/mt. Inquiries from downstream buyers were brisk, but purchasing was limited. Transactions were mainly made among traders.
 

Key Words:  zinc prices