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SMM Zinc Market Daily Review (2013-7-10)
Jul 11,2013 08:42CST
price review forecast
Source:SMM
SHFE 1310 zinc contract prices opened lower at RMB 14,515/mt.

SHANGHAI, Jul. 11 (SMM) - SHFE 1310 zinc contract prices opened lower at RMB 14,515/mt. China’s June data was disappointing, but SHFE zinc prices were rarely affected and generally fluctuated between RMB 14,475-14,500/mt. A-shares rose in the afternoon to 2,000, boosting market sentiment and inducing a large number of longs to enter the market, pushing up SHFE zinc prices to touch RMB 14,585/mt, and finally closing at RMB 14,560/mt, up RMB 25/mt, or 0.17%. Trading volumes decreased by 6,132 lots, to 50,226 lots, and total positions increased by 286 lots, to 156,092 lots.

#0 zinc prices were between RMB 14,570-14,600/mt, with spot premiums between RMB 90-100/mt against SHFE 1310 zinc contract prices. #1 zinc prices were between RMB 14,550-14,560/mt. Both supply and demand was weak, with transactions limited. SHFE 1310 zinc contract prices opened low then fluctuated. Smelters were unwilling to sell goods, and traders stood on the sidelines, while downstream buyers purchasing as needed, keeping transactions muted. SHFE zinc prices rebounded slightly in the afternoon, and spot zinc prices also edged up, with #0 zinc prices were between RMB 14,620-14,640/mt, with spot premiums between RMB 80-90/mt against SHFE 1310 zinc contract prices.

 

SHFE 1310 zinc contract prices

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