SHANGHAI, Nov. 21 (SMM) – Pushed by LME zinc prices overnight, SHFE 1402 zinc contract prices opened high at RMB 14,830/mt, and then rose to RMB 14,860/mt as a large number of buyers entered the market. In the afternoon, LME zinc prices and Shanghai Composite Index climbed, pushing up SHFE zinc prices to RMB 14,895/mt, but falling at the end of trading, closing the day at RMB 14,870/mt, up RMB 85/mt. Trading volumes decreased by 2,954 lots, to 28,246 lots, and total positions increased by 1,242 lots, to 114,000 lots.
#0 zinc prices were between RMB 14,920-14,960/mt, with spot premiums between RMB 70-100/mt against SHFE 1402 zinc contract prices. Lida branded #1 zinc prices were around RMB 14,910/mt, and spot premiums of Belgian #0 zinc prices were RMB 50/mt, trading at RMB 14,900/mt, with spot premiums of KZ and SMC #0 zinc RMB 70/mt against SHFE 1402 zinc contract prices, trading around RMB 14,920/mt. Cargo holders were moving goods actively, while downstream buyers purchased goods on an as-needed basis, with transactions muted.