Spot Zinc Price Movement (2013-6-18)

SHANGHAI, Jun. 18 (SMM) – #0 zinc prices were between RMB 14,650-14,680/mt, with spot premiums between RMB 90-110/mt against SHFE 1309 zinc contract prices. #1 zinc prices were between RMB 14,630/mt. Imported #0 zinc prices were around RMB 14,640/mt. Cargo holders were actively moving goods to generate cash as SHFE zinc prices inched down, but downstream buying interest weakened, keeping transactions quiet. With the exception of the Shuangyan brand, goods supply was tight, with the price spread with Shuangyan brand narrowing to RMB 10-20/mt. Imported zinc in Guangdong province squeezed market shares of domestic zinc, while downstream demand was also sluggish, with prices of Qilin brand between RMB 14,540-14,570/mt, and with the price spread with Shuangyan around RMB 100/mt.