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Home / Metal News / SMM Zinc Market Morning Review (2013-2-28)

SMM Zinc Market Morning Review (2013-2-28)

Feb 28, 2013 09:06

Source:SMM

LME zinc prices overnight opened slightly higher at USD 2,105/mt, and pulled up to USD 2,123/mt after opening.

SHANGHAI, Feb. 28 (SMM) – LME zinc prices overnight opened slightly higher at USD 2,105/mt, and pulled up to USD 2,123/mt after opening. But as large numbers of shorts entered the market, and since LME zinc inventories surged by 18,125 mt, to 1,194,250 mt, LME zinc prices dipped to USD 2,078/mt, and finally closed at USD 2,078/mt, down 23.5/mt or 1.1%. Trading volumes increased by 137 lots to 10,276 lots, and total position decreased by 2,260 lots to 285,683 lots.

LME zinc prices should fluctuate between USD 2,080-2,110/mt today, and SHFE 1305 zinc contract prices should move between RMB 15,550-15,650/mt, with spot discounts against SHFE 1305 zinc contract prices between RMB 280-310/mt.

LME zinc prices

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