SHANGHAI, Mar. 15 (SMM) - SHFE 1306 zinc contract prices opened at RMB 15,260/mt, and dropped to RMB 15,215/mt after opening as large numbers of shorts entered the market. Due to rising LME zinc prices, SHFE zinc prices rallied to RMB 15,295/mt near the end of the trading, and finally closed at RMB 15,280/mt, down RMB 5/mt, or 0.03%. Trading volumes decreased by 3,284 lots, to 72,178 lots. Total position increased by 4,902 lots to 127,768 lots.
SHFE three-month zinc contract prices fluctuated around RMB 15,215/mt today. Discounts of #0 zinc against SHFE 1305 zinc contract prices were RMB 170-180/mt, with traded prices between RMB 14,950-14,960/mt. #1 zinc prices were RMB 14,920-14,930/mt. Traders lacked buying interest, while downstream buyers were also cautious, keeping overall transactions quiet.