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SMM Zinc Market Daily Review (2014-3-3)
Mar 4,2014 10:26CST
price review forecast
Source:SMM
SHFE 1405 zinc contract prices opened at RMB 15,175/mt last Friday evening, and leveled out between RMB 15,145-15,170/mt due to quiet transactions.

SHANGHAI, Mar. 4 (SMM) – SHFE 1405 zinc contract prices opened at RMB 15,175/mt last Friday evening, and leveled out between RMB 15,145-15,170/mt due to quiet transactions, and finally closing at RMB 15,150/mt, up RMB 20/mt or 0.13%. Trading volumes decreased by 6,648 lots to 11,566 lots, and total positions increased by 2,808 lots to 225,208 lots. SHFE 1405 zinc contract prices opened at RMB 15,150/mt on Monday, and dipped to USD 15,060/mt, and closing at RMB 15,080/mt, down RMB 50/mt or 0.33%. Trading volumes increased by 2,504 lots, to 31,400 lots, and total positions decreased by 154 lots, to 110,368 lots.

#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.
 

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