SHANGHAI, Mar. 3 (SMM) – SHFE 1405 zinc contract prices opened higher at RMB 15,105/mt on Thursday evening, and edged up to RMB 15,160/mt with strengthening LME zinc prices and a large number of shorts leaving the market, and finally closing at RMB 15,150/mt, up RMB 10/mt or 0.07%. Trading volumes decreased by 1,424 lots to 18,214 lots, and total positions increased by 500 lots to 101,854 lots. SHFE 1405 zinc contract prices opened at RMB 15,155/mt on Friday, and dipped to USD 15,105/mt after touching USD 15,185/mt, dragged down by LME zinc prices, and closing at RMB 15,135/mt, down RMB 5/mt or 0.03%. Trading volumes decreased by 1,156 lots, to 28,896 lots, and total positions increased by 6,666 lots, to 108,520 lots.

#0 zinc prices were between RMB 14,900-14,940/mt, with spot discounts between RMB 210-250/mt against SHFE 1405 zinc contract prices. #1 zinc prices were around RMB 14,850/mt. SHFE 1405 zinc contract prices opened at RMB 15,155/mt on Friday, hovering around RMB 15,165/mt during the first session, up RMB 20-30/mt from Thursday, but spot discounts expanded further due to soft demand. Shuangyan branded #0 zinc prices were around RMB 14,940/mt, with spot discounts of RMB 220/mt against SHFE 1405 zinc contract prices. During the second session, SHFE 1405 zinc contract prices edged down, with spot zinc prices falling by RMB 10/mt. Traders exited the market at the week’s end, while downstream buying interest remained low, keeping trades muted. Shuangyan branded #0 zinc prices were between RMB 14,930-14,940/mt, with RMB 14,920/mt for Yuguang branded #0 zinc, and RMB 14,900-14,910/mt for Jiulong and Qinxin branded #0 zinc.