SMM Zinc Market Morning Review (2013-10-22)

Price Review & Forecast 09:37:06AM Oct 22, 2013 Source:SMM

SHANGHAI, Oct. 22 (SMM) – LME zinc prices overnight edged up. The news that some products on the Shanghai Stock Exchange can be traded with a“T+0” mode drove up China’s stocks, which pushed up LME zinc prices to rise from USD 1,935/mt, to USD 1,945/mt. but trading muted during European and US trading hours, with LME zinc prices fluctuating between USD 1,935-1,945/mt, falling slightly at the end of trading, and closing at USD 1,943.3/mt, up USD 13.3/mt or 0.69%. Trading volumes decreased by 1,314 lots, to 6,888 lots, and total positions decreased by 1,294 lots, to 287,386 lots. LME zinc inventories fell by 5,250 mt, to 1,055,775 mt.

LME zinc prices are expected to move between USD 1,935-1,955/mt today, and SHFE 1401 zinc contract prices should hover between RMB 15,060-15,180/mt, with spot premiums between RMB 30-90/mt.
 

Key Words:  zinc prices  

SMM Zinc Market Morning Review (2013-10-22)

Price Review & Forecast 09:37:06AM Oct 22, 2013 Source:SMM

SHANGHAI, Oct. 22 (SMM) – LME zinc prices overnight edged up. The news that some products on the Shanghai Stock Exchange can be traded with a“T+0” mode drove up China’s stocks, which pushed up LME zinc prices to rise from USD 1,935/mt, to USD 1,945/mt. but trading muted during European and US trading hours, with LME zinc prices fluctuating between USD 1,935-1,945/mt, falling slightly at the end of trading, and closing at USD 1,943.3/mt, up USD 13.3/mt or 0.69%. Trading volumes decreased by 1,314 lots, to 6,888 lots, and total positions decreased by 1,294 lots, to 287,386 lots. LME zinc inventories fell by 5,250 mt, to 1,055,775 mt.

LME zinc prices are expected to move between USD 1,935-1,955/mt today, and SHFE 1401 zinc contract prices should hover between RMB 15,060-15,180/mt, with spot premiums between RMB 30-90/mt.
 

Key Words:  zinc prices