SHFE Zinc Price Movement (2013-1-30)-Shanghai Metals Market

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SHFE Zinc Price Movement (2013-1-30)

Price Review & Forecast 05:11:24PM Jan 30, 2013 Source:SMM

SHANGHAI, Jan. 30 (SMM) – SHFE three-month zinc contract prices fluctuated at high levels today. Discounts of #0 zinc against SHFE 1304 zinc contract prices expanded to RMB 300-310/mt, with traded prices around RMB 15,330/mt after opening, and mainstream prices then rose to RMB 15,500/mt. #1 zinc prices were RMB 15,420-15,450/mt. Smelters increased goods supply as spot zinc prices rose along with SHFE zinc prices, but only modestly due to optimism. Spot discounts did not expand noticeably, so arbitrage traders were cautious. Downstream buying interest low, keeping transactions muted.
 

Key Words:  SHFE zinc prices  

SHFE Zinc Price Movement (2013-1-30)

Price Review & Forecast 05:11:24PM Jan 30, 2013 Source:SMM

SHANGHAI, Jan. 30 (SMM) – SHFE three-month zinc contract prices fluctuated at high levels today. Discounts of #0 zinc against SHFE 1304 zinc contract prices expanded to RMB 300-310/mt, with traded prices around RMB 15,330/mt after opening, and mainstream prices then rose to RMB 15,500/mt. #1 zinc prices were RMB 15,420-15,450/mt. Smelters increased goods supply as spot zinc prices rose along with SHFE zinc prices, but only modestly due to optimism. Spot discounts did not expand noticeably, so arbitrage traders were cautious. Downstream buying interest low, keeping transactions muted.
 

Key Words:  SHFE zinc prices