Spot Zinc Price Movement (2013-10-21)-Shanghai Metals Market

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Spot Zinc Price Movement (2013-10-21)

Price Review & Forecast 05:44:10PM Oct 21, 2013 Source:SMM

SHANGHAI, Oct. 21 (SMM) – #0 zinc prices were between RMB 15,090-15,160/mt, with spot premiums narrowing RMB 50/mt, to RMB 50-100/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 15,040-15,050/mt. SHFE 1401 zinc contract prices opened flat but strengthened later the day, with both smelters and other cargo holders actively moving goods, causing supply to increase and spot premiums to narrow. A large number of traders entered the market, but downstream buying interest was low, leaving trading muted. Shuangyan and Yuguang branded #0 zinc prices were RMB 15,140-15,160/mt, with Baohui brand #0 zinc prices between RMB 15,090-15,100/mt. Other regular #0 zinc prices were between RMB 15,110-15,130/mt, with spot premiums of SMC #0 zinc against SHFE 1401 zinc contract prices around RMB 50/mt.
 

Key Words:  zinc prices  

Spot Zinc Price Movement (2013-10-21)

Price Review & Forecast 05:44:10PM Oct 21, 2013 Source:SMM

SHANGHAI, Oct. 21 (SMM) – #0 zinc prices were between RMB 15,090-15,160/mt, with spot premiums narrowing RMB 50/mt, to RMB 50-100/mt against SHFE 1401 zinc contract prices. #1 zinc prices were between RMB 15,040-15,050/mt. SHFE 1401 zinc contract prices opened flat but strengthened later the day, with both smelters and other cargo holders actively moving goods, causing supply to increase and spot premiums to narrow. A large number of traders entered the market, but downstream buying interest was low, leaving trading muted. Shuangyan and Yuguang branded #0 zinc prices were RMB 15,140-15,160/mt, with Baohui brand #0 zinc prices between RMB 15,090-15,100/mt. Other regular #0 zinc prices were between RMB 15,110-15,130/mt, with spot premiums of SMC #0 zinc against SHFE 1401 zinc contract prices around RMB 50/mt.
 

Key Words:  zinc prices