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SMM Zinc Market Daily Review (2014-3-7)
Mar 10,2014 09:48CST
price review forecast
Source:SMM
SHFE 1405 zinc contract prices opened at RMB 15,185/mt on Thursday evening.

SHANGHAI, Mar. 10 (SMM) – SHFE 1405 zinc contract prices opened at RMB 15,185/mt on Thursday evening, then edged up with rising LME zinc prices, touching RMB 15,210/mt, and finally closing at RMB 15,210/mt, up RMB 5/mt or 0.03%. Trading volumes decreased by 2,110 lots to 13,972 lots, and total positions increased by 1,178 lots to 120,912 lots. SHFE 1405 zinc contract prices opened at RMB 15,210/mt on Friday, then edged down, dipping to RMB 15,130/mt in the afternoon due to mounting short momentum, hovering between RMB 15,145-15,165/mt, and closing at RMB 15,170/mt, down RMB 35/mt or 0.23%. Trading volumes decreased by 17,040 lots, to 45,020 lots, and total positions decreased by 6,390 lots, to 113,344 lots.

#0 zinc prices were between RMB 14,930-14,970/mt, with spot discounts between RMB 200-240/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 15,210/mt on Friday, then edged down during the first session, dragging down Shuangyan branded #0 zinc prices from RMB 14,990/mt to RMB 14,960/mt. During the second session, SHFE zinc prices leveled out between RMB 15,160-15,170/mt, with most traders actively moving goods, and some pessimistic investors purchasing goods. Some downstream buyers entered the market at the week’s end. Shuangyan branded #0 zinc prices were around RMB 14,960/mt, with RMB 14,940/mt for Yuguang branded #0 zinc, and RMB 14,930/mt for Qinxin, Jiulong and Feilong branded #0 zinc.

 

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