SMM Zinc Market Daily Review (2013-3-22)

SHANGHAI, Mar. 25 (SMM) - SHFE 1306 zinc contract prices opened at RMB 14,960/mt today, and generally fluctuated around RMB 14,950/mt in the morning trading. As the Shanghai Composite plunged, SHFE 1306 zinc contract prices hit RMB 14,920/mt, and dipped to an intraday low of RMB 14,890/mt. As the Shanghai Composite rebounded, SHFE zinc prices inched up and finally closed at RMB 14,950/mt, down RMB 60/mt. Total positions decreased by 318 lots to 132,392 lots. 2

SHFE 1306 zinc contract prices opened lower and then fluctuated today. Discounts of #0 zinc against SHFE 1306 zinc contract prices were RMB 170-190/mt, with traded prices around RMB 14,760-14,780/mt. #1 zinc prices were RMB 14,720-14,730/mt. Both suppliers and downstream buyers took a wait-and-see attitude, keeping overall transactions muted.