SHANGHAI, Nov. 4 (SMM) - SHFE 1401 zinc contract prices opened at RMB 14,970/mt. As China's October PMI was positive, LME zinc prices edged up to RMB 15,020/mt. When combined with the rising Shanghai Composite Index, SHFE zinc prices continued to rise and touched RMB 15,085/mt, and closed at RMB 15,075/mt, up RMB 110/mt or 0.75%. Trading volumes decreased by 82,732 lots, to 27,142 lots, and total positions decreased by 92 lots, to 115,302 lots. SHFE zinc prices found support at the 20-day moving average, struggling between the 5 and 10-day moving average.
#0 zinc prices were between RMB 15,070-15,110/mt, with spot premiums between RMB 60-100/mt against SHFE 1401 zinc contract prices, up RMB 100/mt. #1 zinc prices were between RMB 15,020-15,040/mt. SHFE 1401 zinc contract prices opened higher at RMB 14,970/mt, then edged up to RMB 15,000/mt as China's official October PMI was 51.4, up from the 51.1 in September. Shuangyan branded #0 zinc prices between RMB 15,100-15,110/mt, and other brands #0 zinc prices were between RMB 15,070-15,090/mt. cargo holders were actively moving goods, but downstream buying interest was low, with trading quiet.