Spot Zinc Price Movement (2014-3-18)

SHANGHAI, Mar. 18 (SMM) – #0 zinc prices were between RMB 14,620-14,650/mt, with spot discounts between RMB 60-100/mt against SHFE 1405 zinc contract prices. #1 zinc prices were between RMB 14,600-14,610/mt. SHFE 1406 zinc contract prices opened at RMB 14,680/mt on Tuesday, and hovered at low levels during the first session. Shuangyan branded #0 zinc prices were between RMB 14,620-14,630, with discounts of RMB 60/mt against SHFE 1406 zinc contract prices, and RMB 14,600-14,610/mt for other regular brands. SHFE copper prices rebounded during the second session, pushing up SHFE zinc prices to RMB 14,700/mt, prompting a large number of traders to enter the market. But smelters were holding back goods, and some bargain hunters entered the market, with transactions improving from the previous day. Shuangyan branded #0 zinc prices were around RMB 14,650/mt, with RMB 14,620-14,630/mt for Qinxin, Jiulong and Feilong branded #0 zinc. SMC branded #0 zinc prices were between RMB 14,630-14,640/mt, with transactions muted.