Spot Zinc Price Movement (2013-10-8)-Shanghai Metals Market

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Spot Zinc Price Movement (2013-10-8)

Price Review & Forecast 05:22:28PM Oct 08, 2013 Source:SMM

SHANGHAI, Oct. 8 (SMM) – #0 zinc prices were between RMB 14,880-14,910/mt, with spot premiums of RMB 150-180/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,850-14,860/mt. large amounts of imported zinc arrived at ports ahead of the holiday, with Belgium and Indian #0 zinc prices between RMB 14,830-14,850/mt. Dragged down by LME zinc prices, SHFE 1312 zinc contract prices opened low, but investors lacked interest in purchasing. Cargo holders were actively moving goods with firm prices, causing spot premiums to expand significantly, with RMB 200/mt for Shuangyan branded zinc against SHFE 1401 zinc contract prices. But due to the lack of downstream buyers, transactions were quiet, with mainstream premiums of RMB 170-180/mt for Shuangyan branded #0 zinc. With sluggish downstream orders and the typhoon, overall transactions were muted.
 

Key Words:  zinc prices  

Spot Zinc Price Movement (2013-10-8)

Price Review & Forecast 05:22:28PM Oct 08, 2013 Source:SMM

SHANGHAI, Oct. 8 (SMM) – #0 zinc prices were between RMB 14,880-14,910/mt, with spot premiums of RMB 150-180/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,850-14,860/mt. large amounts of imported zinc arrived at ports ahead of the holiday, with Belgium and Indian #0 zinc prices between RMB 14,830-14,850/mt. Dragged down by LME zinc prices, SHFE 1312 zinc contract prices opened low, but investors lacked interest in purchasing. Cargo holders were actively moving goods with firm prices, causing spot premiums to expand significantly, with RMB 200/mt for Shuangyan branded zinc against SHFE 1401 zinc contract prices. But due to the lack of downstream buyers, transactions were quiet, with mainstream premiums of RMB 170-180/mt for Shuangyan branded #0 zinc. With sluggish downstream orders and the typhoon, overall transactions were muted.
 

Key Words:  zinc prices