SMM Zinc Market Daily Review (2013-11-19)

SHANGHAI, Nov. 20 (SMM) – Dragged down by LME zinc prices overnight, SHFE 1402 zinc contract prices opened high at RMB 14,790/mt, and then moved between RMB 14,780-14,810/mt, closing the day at RMB 14,785/mt, down RMB 80/mt. Trading volumes increased by 7,144 lots, to 31,200 lots, and total positions increased by 8,768 lots, to 113,000 lots.

#0 zinc prices were between RMB 14,910-14,930/mt, with spot premiums between RMB 110-130/mt against SHFE 1402 zinc contract prices. Jiulong branded #1 zinc prices were around RMB 14,880/mt, and Belgian #1 zinc prices were RMB 14,850-14,860/mt, with KZ and SMC #0 zinc prices between RMB 14,890-14,900/mt. SHFE 1402 zinc contract prices opened low then moved around RMB 14,800/mt. Cargo holders were moving goods normally, and downstream buyers mostly purchased goods on an as-needed basis, with transactions muted.