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SMM Zinc Market Daily Review (2013-7-9)
Jul 10,2013 09:22CST
price review forecast
Source:SMM
SHFE 1310 zinc contract prices opened RMB 65/mt higher at RMB 14,500/mt, and moved higher after opening. China's June CPI rose 2.7% YoY.

SHANGHAI, Jul. 10 (SMM) - SHFE 1310 zinc contract prices opened RMB 65/mt higher at RMB 14,500/mt, and moved higher after opening. China's June CPI rose 2.7% YoY, while PPI fell by 2.7%, in line with market expectations. SHFE zinc prices generally fluctuated between RMB 14,515-14,535/mt, and inched up to RMB 14,535-14,555/mt, boosted by rising LME zinc prices and A-shares, and finally closing at RMB 14,530/mt, up RMB 95/mt, or 0.66%. Trading volumes increased by 8,772 lots, to 56,358 lots, and total positions decreased by 4,646 lots, to 155,806 lots.

#0 zinc prices were between RMB 14,600-14,630/mt, with spot premiums between RMB 80-100/mt against SHFE 1310 zinc contract prices. #1 zinc prices were between RMB 14,580-14,590/mt. SHFE 1310 zinc contract prices opened higher then fluctuated, and spot zinc prices rose, but smelters continued to hold onto their goods. Some traders were actively moving goods at higher prices, while downstream buying interest was low, with transactions muted. SHFE zinc prices edged up in the afternoon, and spot zinc prices also rose, with #0 zinc prices between RMB 14,630-14,640/mt, with spot premiums narrowing to RMB 80-90/mt against SHFE 1310 zinc contract prices.

 

SHFE 1310 zinc contract prices

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