Spot Zinc Price Movement (2013-10-15)

SHANGHAI, Oct. 15 (SMM) – #0 zinc prices were between RMB 15,060-15,130/mt, with spot premiums of RMB 100-150/mt against SHFE 1401 zinc contract prices. #1 zinc prices were around RMB 15,020/mt, and Belgium #0 zinc availability was high, with spot premiums of RMB 30-40/mt against SHFE 1401 zinc contract prices. SHFE 1401 zinc contract prices opened high but fell later the day, closing flat at the previous day. Cargo holders were holding prices firm, with spot premiums firm. Smelters did not have high inventory pressure as they had moved goods before the holiday, and other cargo holders were holding prices firm. Traders were unwilling to purchase, with premiums high. Spot zinc prices climbed above RMB 15,000/mt recently, forcing downstream buyers out of the market, leaving trading muted. Yuguang and Shuangyan branded #0 zinc prices were between RMB 15,110-15,130/mt, and other zinc ingot was traded between RMB 15,060-15,090/mt.