Spot Zinc Price Movement (2013-7-18)

SHANGHAI, Jul. 18 (SMM) – #0 zinc prices were between RMB 14,640-14,660/mt, with spot premiums of RMB 90-110/mt against SHFE 1310 zinc contract prices. #1 zinc prices were between RMB 14,600-14,610/mt. SHFE zinc prices opened low and fluctuated in a narrow range. As spot zinc prices plunged by around RMB 100/mt, smelters were distressed; some arbitrage traders released goods modestly due to expanding premiums, and traders lacked buying interest. Downstream buyers purchased modestly at lower prices, leaving transactions muted.