Spot Zinc Price Movement (2013-4-18)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Air pollution
  • Macroeconomics
  • Production data
  • Futures movement
  • Zinc
  • Aluminium
  • Nickel
  • Copper
  • hydrogenation stations
  • nickel laterite
  • Market commentary
  • In the United States
  • Morning comments
  • Nickel ore

Spot Zinc Price Movement (2013-4-18)

Price Review & Forecast 06:20:02PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – SHFE 1307 zinc contract prices opened low and then dipped to a two-year low. #0 zinc prices were once level with or RMB 20/mt higher than SHFE 1307 zinc contract prices, with traded prices falling to RMB 14,100-14,200/mt. As bargain hunters entered the market after 10:00 am, SHFE zinc prices rose, causing spot discounts of #0 zinc against SHFE 1307 zinc contract prices to expand to RMB 20-40/mt, with traded prices between RMB 14,300-14,340/mt. Transactions of #1 zinc were rarely made due to supply shortfalls. Arbitrage traders were actively moving goods due to narrowing spot discounts, but downstream buying interest was low, keeping overall transactions muted.


 

Price

more
SMM #1 Nickel
Oct.21
128600.0
-2400.0
(-1.83%)
#1 JinChuan Nickel
Oct.21
128750.0
-2400.0
(-1.83%)
#1 Import Nickel
Oct.21
128550.0
-2300.0
(-1.76%)
JinChuan B&C
Oct.21
10550.0
6000.0
(131.87%)
Russian nickel premium
Oct.21
10300.0
5950.0
(136.78%)

Spot Zinc Price Movement (2013-4-18)

Price Review & Forecast 06:20:02PM Apr 18, 2013 Source:SMM

SHANGHAI, Apr. 18 (SMM) – SHFE 1307 zinc contract prices opened low and then dipped to a two-year low. #0 zinc prices were once level with or RMB 20/mt higher than SHFE 1307 zinc contract prices, with traded prices falling to RMB 14,100-14,200/mt. As bargain hunters entered the market after 10:00 am, SHFE zinc prices rose, causing spot discounts of #0 zinc against SHFE 1307 zinc contract prices to expand to RMB 20-40/mt, with traded prices between RMB 14,300-14,340/mt. Transactions of #1 zinc were rarely made due to supply shortfalls. Arbitrage traders were actively moving goods due to narrowing spot discounts, but downstream buying interest was low, keeping overall transactions muted.