SHFE Zinc Price Movement (2013-2-19)

SHANGHAI, Feb. 19 (SMM) – on February 19, SHFE zinc prices drifted higher after starting down. Traded prices for #0 zinc in spot market were largely between RMB 15,500-15,520/mt, with spot discounts over the 1305 SHFE zinc contract at RMB 300-310/mt. Traded prices for #1 zinc were RMB 15,460-15,470/mt. But spot zinc market activity remained quiet since market participants expressed low trading interest. Most downstream producers have yet to resume production, and some producers in north China even said they will restart operations following the Lantern Festival. In the face of persistently soft zinc prices, downstream consumers have been inactive in replenishing stocks. However, zinc market activity may improve later in the week.