Spot Zinc Price Movement (2013-4-19)-Shanghai Metals Market

Hot Keywords

  • Inventory data
  • Zinc
  • Production data
  • Market commentary
  • Macroeconomics
  • Morning comments
  • Futures movement
  • NPI
  • Copper
  • Aluminium
  • Nickel
  • Nickel ore
  • In the United States
  • trade negotiations
  • nickel laterite

Spot Zinc Price Movement (2013-4-19)

Price Review & Forecast 07:20:41PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – SHFE 1307 zinc contract prices opened high and moved higher. Spot discounts of #0 zinc against SHFE 1307 zinc contract prices were between RMB 60-80/mt, with traded prices initially around RMB 14,320/mt, and then inching up to RMB 14,390-14,420/mt. Transactions of #1 zinc were rarely made, with prices between RMB 14,370-14,400/mt. Due to falling prices and since today is the last trading day of the week, some downstream buyers and arbitrage traders purchased at lower prices earlier in the day. But since SHFE copper prices plunged and closed with declines of 1.39%, the market turned cautious. Overall transactions barely improved from yesterday.
 

Spot Zinc Price Movement (2013-4-19)

Price Review & Forecast 07:20:41PM Apr 19, 2013 Source:SMM

SHANGHAI, Apr. 19 (SMM) – SHFE 1307 zinc contract prices opened high and moved higher. Spot discounts of #0 zinc against SHFE 1307 zinc contract prices were between RMB 60-80/mt, with traded prices initially around RMB 14,320/mt, and then inching up to RMB 14,390-14,420/mt. Transactions of #1 zinc were rarely made, with prices between RMB 14,370-14,400/mt. Due to falling prices and since today is the last trading day of the week, some downstream buyers and arbitrage traders purchased at lower prices earlier in the day. But since SHFE copper prices plunged and closed with declines of 1.39%, the market turned cautious. Overall transactions barely improved from yesterday.