SMM Zinc Market Daily Review (2013-3-15)

SHANGHAI, Mar. 18 (SMM) - SHFE 1306 zinc contract prices opened at RMB 15,280/mt, and then struggled around RMB 15,280/mt. Due to a rising Shanghai Composite, SHFE zinc prices rallied to RMB 15,330-15,340/mt near the end of the trading, and finally closed at RMB 15,345/mt, up RMB 125/mt, or 0.82%. Trading volumes increased by 1,294 lots, to 73,472 lots. Total position increased by 1,520 lots to 129,288 lots.

SHFE 1306 zinc contract prices opened slightly higher and fluctuated narrowly today. Discounts of #0 zinc against SHFE 1305 zinc contract prices were RMB 190/mt, with traded prices around RMB 15,000/mt. #1 zinc prices were RMB 14,950-14,960/mt. The market was cautious as the SRB would invite bid this afternoon, while traders also stood on the sidelines due to fluctuating SHFE zinc prices, keeping overall transactions quiet.