Spot Zinc Price Movement (2014-3-6)

SHANGHAI, Mar. 6 (SMM) – #0 zinc prices were between RMB 14,930-14,960/mt, with spot discounts between RMB 200-230/mt against SHFE 1405 zinc contract prices. #1 zinc prices were between RMB 14,870-14,880/mt. SHFE 1405 zinc contract prices opened at RMB 15,250/mt on Thursday, then edged down during the first session, causing spot discounts to narrow to RMB 200/mt, and some traders to release goods. Shuangyan branded #0 zinc prices dropped from RMB 15,000/mt to RMB 14,950/mt. During the second session, SHFE zinc prices stabilized, with traders actively moving goods and some of them replenishing stocks at lower prices. Downstream buying interest improved, but transactions muted. Shuangyan branded #0 zinc prices were between RMB 14,950-14,960/mt, with RMB 14,930/mt for Jiulong and Feilong branded #0 zinc, and RMB 14,940/mt for Qilin branded #0 zinc.