SHFE Zinc Price Movement (2013-2-5)-Shanghai Metals Market

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SHFE Zinc Price Movement (2013-2-5)

Price Review & Forecast 05:40:17PM Feb 05, 2013 Source:SMM

SHANGHAI, Feb. 5 (SMM) – SHFE three-month zinc contract prices opened lower and inched down today. Discounts of #0 zinc against SHFE 1305 zinc contract prices narrowed to RMB 380-390/mt, with traded prices between RMB 15,650-15,670/mt. #1 zinc prices were RMB 15,570-15,580/mt. Market players began to leave the market and muted transactions. Arbitrage traders moved goods modestly as spot discounts narrowed slightly, but most cargo holders were unwilling to sell goods, keeping goods supply tight. Downstream buyers still purchased on an as-needed basis, keeping transactions muted.
 

Price

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#1 Refined Cu
Dec.11
48485.0
65.0
(0.13%)
Standard-Grade Copper
Dec.11
48475.0
65.0
(0.13%)
High-Grade Copper
Dec.11
48490.0
60.0
(0.12%)
Guixi Copper
Dec.11
48495.0
60.0
(0.12%)
Low-Quality Copper
Dec.11
48430.0
75.0
(0.16%)

SHFE Zinc Price Movement (2013-2-5)

Price Review & Forecast 05:40:17PM Feb 05, 2013 Source:SMM

SHANGHAI, Feb. 5 (SMM) – SHFE three-month zinc contract prices opened lower and inched down today. Discounts of #0 zinc against SHFE 1305 zinc contract prices narrowed to RMB 380-390/mt, with traded prices between RMB 15,650-15,670/mt. #1 zinc prices were RMB 15,570-15,580/mt. Market players began to leave the market and muted transactions. Arbitrage traders moved goods modestly as spot discounts narrowed slightly, but most cargo holders were unwilling to sell goods, keeping goods supply tight. Downstream buyers still purchased on an as-needed basis, keeping transactions muted.