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

Price Review & Forecast 01:11:08PM Oct 11, 2013 Source:SMM

SHANGHAI, Oct. 11 (SMM) - SHFE 1401 zinc contract prices opened at RMB 14,750/mt, and then edge up to RMB 14790/mt. Boosted by rising LME zinc prices, SHFE zinc prices extended their gains and broke through the 5, 10, 20 and 60-day moving average, and closing at RMB 14,845/mt, up RMB 60/mt. Trading volumes increased by 4,964 lots, to 36,180 lots, and total positions increased by 13,002 lots, to 128,000 lots.

#0 zinc prices were between RMB 14,930-14,960/mt, with spot premiums of RMB 150-170/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,890-14,910/mt, with supply tight. Imported #0 zinc prices were between RMB 14,860-14,870/mt. SHFE zinc prices leveled out, and spot zinc transportation recovered as heavy rains in Jiangsu, Zhejiang and Shanghai ended, with some downstream buyers purchasing on an as-needed basis. Cargo holders moved goods reasonably, with transactions improving.

 

Key Words:  zinc prices  

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

Price Review & Forecast 01:11:08PM Oct 11, 2013 Source:SMM

SHANGHAI, Oct. 11 (SMM) - SHFE 1401 zinc contract prices opened at RMB 14,750/mt, and then edge up to RMB 14790/mt. Boosted by rising LME zinc prices, SHFE zinc prices extended their gains and broke through the 5, 10, 20 and 60-day moving average, and closing at RMB 14,845/mt, up RMB 60/mt. Trading volumes increased by 4,964 lots, to 36,180 lots, and total positions increased by 13,002 lots, to 128,000 lots.

#0 zinc prices were between RMB 14,930-14,960/mt, with spot premiums of RMB 150-170/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,890-14,910/mt, with supply tight. Imported #0 zinc prices were between RMB 14,860-14,870/mt. SHFE zinc prices leveled out, and spot zinc transportation recovered as heavy rains in Jiangsu, Zhejiang and Shanghai ended, with some downstream buyers purchasing on an as-needed basis. Cargo holders moved goods reasonably, with transactions improving.

 

Key Words:  zinc prices