Spot Zinc Price Movement (2014-3-3)

SHANGHAI, Mar. 6 (SMM) – #0 zinc prices were between RMB 14,860-14,900/mt, with spot discounts between RMB 190-230/mt against SHFE 1405 zinc contract prices. #1 zinc prices were between RMB 14,810-14,820/mt. SHFE 1405 zinc contract prices opened at RMB 15,150/mt on Monday, falling after opening as a large number of shorts entered the market during the first session. Quotes for Shuangyan branded #0 zinc were lowered from RMB 14,930/mt to RMB 14,900/mt. In the second session, SHFE 1405 zinc contract prices stabilized around RMB 15,090/mt, with spot prices firm, and spot discounts narrowing by RMB 20/mt from last week. Cargo holders mostly moved goods actively, pushing down zinc prices and attracting some downstream buyers to replenish stocks, causing transactions to improve. Shuangyan branded #0 zinc prices were between RMB 14,890-14,900/mt, with RMB 14,860/mt for Jiulong, Qinxin, Feilong and SMC branded #0 zinc.