SHANGHAI, Oct. 8 (SMM) - SHFE 1312 zinc contracts prices opened slightly higher at RMB 14,785/mt September 30. Due to the launch of Shanghai Free Trade Zone, the Shanghai Composite Index opened high and moved higher, supporting SHFE 1312 zinc contracts prices to inch up to RMB 14,820/mt. Drove up by LME zinc prices, SHFE zinc prices soared to RMB 14,860/mt, and closed at RMB 14,850/mt, up RMB 95/mt or 0.64%.
Trading volumes decreased by 318 lots, to 24,756 lots, and total positions decreased by 8,672 lots, to 113,206 lots.
#0 zinc prices were between RMB 14,920-14,950/mt, with spot premiums of RMB 100-130/mt against SHFE 1312 zinc contract prices. #1 zinc prices were between RMB 14,880-14,890/mt. Imported #0 zinc prices were RMB 14,920/mt. SHFE 1312 zinc contract prices opened high and then moved to RMB 14,820/mt, with quotes by cargo holders firm but purchasing modest. Both traders and smelters stood on the sidelines ahead of the Chinese holiday, leaving transactions muted.