Spot Zinc Price Movement (2013-10-23)

SHANGHAI, Oct. 23 (SMM) – #0 zinc prices were between RMB 15,100-15,170/mt, with spot premiums between RMB 30-70/mt against SHFE 1401 zinc contract prices. #1 zinc prices were around RMB 15,050/mt. Cargo holders were actively moving goods, keeping supply ample, while downstream buyers purchased on an as-needed basis, with transactions muted. SHFE zinc prices opened high and soared in the first session, then leveling out at RMB 15,130/mt, with #0 zinc prices between RMB 15,130-15,190/mt. Shuangyan branded #0 zinc prices were between RMB 15,170-15,190/mt, and other regular #0 zinc prices were RMB 15130-15150/mt, with spot premiums between RMB 0-50/mt. Dragged down by LME zinc prices, SHFE zinc prices fell during the second session, pushing down spot zinc prices. Shuangyan branded #0 zinc prices dropped to RMB 15,150-15,160/mt, and other brands fell to RMB 15,100-15,120/mt, with spot premiums expanding to RMB 30-80/mt.