Spot Zinc Price Movement (2013-10-17)

Price Review & Forecast 05:16:09PM Oct 17, 2013 Source:SMM

SHANGHAI, Oct. 17 (SMM) – #0 zinc prices were between RMB 15,040-15,090/mt, with spot premiums of RMB 120-170/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,950-14,970/mt, and spot premiums of Belgium #0 zinc were around RMB 30/mt against SHFE 1401 zinc contract prices. SHFE 1401 zinc contract prices opened high, but were pushed down as a large numbers of investors left the market. Cargo holders were still holding prices firm, pushing up spot premiums by RMB 10/mt. Smelters without inventory pressure continued to hold prices firm. Ongoing high premiums kept both downstream buyers and traders on the sidelines, with trading muted. Yuguang and Shuangyan branded #0 zinc prices were were RMB 15,070-15,090/mt, with a small quantity of Shuangyan brand traded at RMB 15,100/mt, and other zinc ingot was traded between RMB 15,040-15,050/mt. Imported SMC and KZ #0 zinc prices were between RMB 15,040-15,050/mt.

 

Key Words:  zinc prices  

Spot Zinc Price Movement (2013-10-17)

Price Review & Forecast 05:16:09PM Oct 17, 2013 Source:SMM

SHANGHAI, Oct. 17 (SMM) – #0 zinc prices were between RMB 15,040-15,090/mt, with spot premiums of RMB 120-170/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 14,950-14,970/mt, and spot premiums of Belgium #0 zinc were around RMB 30/mt against SHFE 1401 zinc contract prices. SHFE 1401 zinc contract prices opened high, but were pushed down as a large numbers of investors left the market. Cargo holders were still holding prices firm, pushing up spot premiums by RMB 10/mt. Smelters without inventory pressure continued to hold prices firm. Ongoing high premiums kept both downstream buyers and traders on the sidelines, with trading muted. Yuguang and Shuangyan branded #0 zinc prices were were RMB 15,070-15,090/mt, with a small quantity of Shuangyan brand traded at RMB 15,100/mt, and other zinc ingot was traded between RMB 15,040-15,050/mt. Imported SMC and KZ #0 zinc prices were between RMB 15,040-15,050/mt.

 

Key Words:  zinc prices