Spot Zinc Price Movement (2013-4-2)-Shanghai Metals Market

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Spot Zinc Price Movement (2013-4-2)

SMM Insight 01:35:49PM Apr 02, 2013 Source:SMM

SHANGHAI, Apr. 2 (SMM) – SHFE 1306 zinc contract fell back after initial rises on Tuesday. #0 zinc was traded at RMB 14,570-14,590/mt, a discounts of RMB 80-100/mt over SHFE 1306 zinc contract prices. Mainstream traded prices for #1 zinc were RMB 14,540-14,560/mt, and its price spread with #0 zinc narrowed due to tight supplies. Zinc smelters refrained from selling at lows and are planning to cut or suspend production since zinc prices are far below costs. Traders were testing the water and in no hurry to buy. Downstream producers mostly purchased as needed due to poor orders and out of growing bearishness over future prices. This left trading unimproved from yesterday. 
 

Price

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Aluminum Ingot
Oct.18
14000.0
40.0
(0.29%)
Aluminum Ingot - Fo Shan
Oct.18
13960.0
30.0
(0.22%)
Aluminum Ingot - Wu Xi
Oct.18
14000.0
20.0
(0.14%)
Aluminum Ingot - Hang Zhou
Oct.18
14040.0
55.0
(0.39%)
Aluminum Ingot - Chong Qing
Oct.18
13980.0
60.0
(0.43%)

Spot Zinc Price Movement (2013-4-2)

SMM Insight 01:35:49PM Apr 02, 2013 Source:SMM

SHANGHAI, Apr. 2 (SMM) – SHFE 1306 zinc contract fell back after initial rises on Tuesday. #0 zinc was traded at RMB 14,570-14,590/mt, a discounts of RMB 80-100/mt over SHFE 1306 zinc contract prices. Mainstream traded prices for #1 zinc were RMB 14,540-14,560/mt, and its price spread with #0 zinc narrowed due to tight supplies. Zinc smelters refrained from selling at lows and are planning to cut or suspend production since zinc prices are far below costs. Traders were testing the water and in no hurry to buy. Downstream producers mostly purchased as needed due to poor orders and out of growing bearishness over future prices. This left trading unimproved from yesterday.