Spot Zinc Price Movement (2013-4-15)-Shanghai Metals Market

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Spot Zinc Price Movement (2013-4-15)

Price Review & Forecast 06:02:00PM Apr 15, 2013 Source:SMM

SHANGHAI, Apr. 15 (SMM) – SHFE 1307 zinc contract prices opened low and moved lower, hitting a record low last seen in July 2012, down RMB 320/mt by the end of the morning trading, or a drop of 2.16%. Discounts of #0 zinc against SHFE 1306 zinc contract prices were initially RMB 40/mt, and then narrowed to RMB 0/mt as SHFE zinc prices fell, with traded prices between RMB 14,440-14,510/mt. #1 zinc prices were between RMB 14,420-14,480/mt. Smelter unwillingness to sell goods enhanced, while traders took a wait-and-see attitude. Arbitrage traders released goods moderately due to narrowing spot discounts, and downstream buyers purchased modestly at lower prices, with overall transactions muted.
 

Price

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SMM #1 Nickel
Oct.18
131000.0
-500.0
(-0.38%)
#1 JinChuan Nickel
Oct.18
131150.0
-450.0
(-0.34%)
#1 Import Nickel
Oct.18
130850.0
-500.0
(-0.38%)
JinChuan B&C
Oct.18
4550.0
1450.0
(46.77%)
Russian nickel premium
Oct.18
4350.0
1400.0
(47.46%)

Spot Zinc Price Movement (2013-4-15)

Price Review & Forecast 06:02:00PM Apr 15, 2013 Source:SMM

SHANGHAI, Apr. 15 (SMM) – SHFE 1307 zinc contract prices opened low and moved lower, hitting a record low last seen in July 2012, down RMB 320/mt by the end of the morning trading, or a drop of 2.16%. Discounts of #0 zinc against SHFE 1306 zinc contract prices were initially RMB 40/mt, and then narrowed to RMB 0/mt as SHFE zinc prices fell, with traded prices between RMB 14,440-14,510/mt. #1 zinc prices were between RMB 14,420-14,480/mt. Smelter unwillingness to sell goods enhanced, while traders took a wait-and-see attitude. Arbitrage traders released goods moderately due to narrowing spot discounts, and downstream buyers purchased modestly at lower prices, with overall transactions muted.