SHANGHAI, Mar. 7 (SMM) - SHFE 1306 zinc contract prices opened at RMB 15,465/mt, and then inched down to RMB 15,420/mt as short momentum mounted. LME zinc prices dropped after opening, down to USD 2,000/mt. As a result, SHFE three-month zinc contract prices pulled down and moved between RMB 15,375-15,400/mt in the afternoon, with the low end of the price range dipping to RMB 15,335/mt, the lowest since December 2012, and finally closed at RMB 15,370/mt, down RMB 90/mt, or 0.58%. Trading volumes increased by 14,442 lots, to 86,466 lots, and total position increased by 9,680 lots to 106,618 lots.
SHFE three-month zinc contract prices opened flat and then inched down slightly today. Discounts of #0 zinc against SHFE 1305 zinc contract prices were RMB 230-240/mt, with traded prices between RMB 15,090-15,100/mt. #1 zinc prices were RMB 15,050-15,060/mt. Smelters moved goods modestly, while downstream buyers and traders bought at lower prices, keeping transactions muted.