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SMM Zinc Market Daily Review (2013-3-12)
Mar 13,2013 09:14CST
price review forecast
Source:SMM
SHFE 1306 zinc contract prices opened at RMB 15,250/mt, moving within RMB 15,245-15,255/mt in the morning session.

SHANGHAI, Mar. 13 (SMM) - SHFE 1306 zinc contract prices opened at RMB 15,250/mt, moving within RMB 15,245-15,255/mt in the morning session. In the afternoon, the Shanghai Composite Index closed 1.04% lower at 2,286.6 points, sending SHFE zinc for June delivery to a low of RMB 15,155/mt. Finally, SHFE three-month zinc contract prices ended the day down RMB 75/mt or 0.49% at RMB 15,160/mt. Trading volumes increased by 2,312 lots to 86,778 lots, while positions decreased by 888 lots to 126,004 lots.

SHFE three-month zinc contract prices rose after opening unchanged from yesterday. Mainstream traded prices for #0 zinc were RMB 14,970-14,980/mt, with discounts over SHFE 1305 zinc contract prices at RMB 180-200/mt. #1 zinc was in tight supply, with traded price around RMB 14,950/mt. Smelters held back from selling. Traders, on the other hand, moved goods for arbitrage, resulting in ample supply. Offers for selected goods were firm due to tight supplies. Downstream producers mostly purchased as needed, leaving overall trading light.
 

SHFE 1306 zinc contract prices

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