SHANGHAI, Mar. 7 (SMM) – SHFE three-month zinc contract prices opened low and moved lower today. Discounts of #0 zinc against SHFE 1305 zinc contract prices were RMB 180-220/mt, with traded prices between RMB 14,920-14,980/mt. #1 zinc prices were RMB 14,900-14,930/mt. Spot zinc prices hit a three-month low of RMB 15,000/mt. Smelters were holding onto their goods, while arbitrage traders moved goods modestly due to narrowing discounts. But downstream buyers were cautoius, keeping transactions muted.