SMM Zinc Market Daily Review (2013-10-9)

Price Review & Forecast 10:12:26AM Oct 10, 2013 Source:SMM

SHANGHAI, Oct. 10 (SMM) - SHFE 1401 zinc contracts became the most actively traded contracts, with prices opening at RMB 14,780/mt, jumping above the 20-day moving average. Due to increasing positions, SHFE zinc prices soared to RMB 14,820/mt, hovering between RMB 14,775-14,795/mt in the afternoon, and closing at RMB 14,785/mt, up RMB 20/mt. Trading volumes increased by 3,084 lots, to 31,216 lots, and total positions increased by 9,252 lots, to 115,000 lots.

#0 zinc prices were between RMB 14,930-14,960/mt, with spot premiums of RMB 140-160/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,890-14,910/mt, with transactions muted. Large amounts of Belgium #0 zinc were available in the market, with prices between RMB 14,880-14,890/mt. market players took a wait-and-see attitude, with inquiries from both traders and downstream buyers increasing, but overall transactions muted.

 
 

Key Words:  zinc prices  

SMM Zinc Market Daily Review (2013-10-9)

Price Review & Forecast 10:12:26AM Oct 10, 2013 Source:SMM

SHANGHAI, Oct. 10 (SMM) - SHFE 1401 zinc contracts became the most actively traded contracts, with prices opening at RMB 14,780/mt, jumping above the 20-day moving average. Due to increasing positions, SHFE zinc prices soared to RMB 14,820/mt, hovering between RMB 14,775-14,795/mt in the afternoon, and closing at RMB 14,785/mt, up RMB 20/mt. Trading volumes increased by 3,084 lots, to 31,216 lots, and total positions increased by 9,252 lots, to 115,000 lots.

#0 zinc prices were between RMB 14,930-14,960/mt, with spot premiums of RMB 140-160/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,890-14,910/mt, with transactions muted. Large amounts of Belgium #0 zinc were available in the market, with prices between RMB 14,880-14,890/mt. market players took a wait-and-see attitude, with inquiries from both traders and downstream buyers increasing, but overall transactions muted.

 
 

Key Words:  zinc prices