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SMM Zinc Market Daily Review (2014-3-27)
Mar 28,2014 09:44CST
price review forecast
Source:SMM
SHFE 1406 zinc contract prices opened at RMB 14,775/mt on Monday evening, and touched RMB 14,815/mt before falling to RMB 14,750-14,760/mt.

SHANGHAI, Mar. 28 (SMM) – SHFE 1406 zinc contract prices opened at RMB 14,775/mt on Monday evening, and touched RMB 14,815/mt before falling to RMB 14,750-14,760/mt, and finally closing at RMB 14,750/mt, down RMB 10/mt or 0.07%.

SHFE 1406 zinc contract prices opened at RMB 14,830/mt on Thursday, then moved between RMB 14,825-14,850/mt. As LME zinc prices fell with LME copper prices, SHFE 1406 zinc contract prices dipped to RMB 14,790/mt, and closing the day at RMB 14,805/mt, down RMB 40/mt or 0.27%. Trading volumes decreased by 7,876 lots, to 17,076 lots, and total positions decreased by 190 lots, to 76,480 lots.

#0 zinc prices were between RMB 14,660-14,680/mt, with spot discounts between RMB 150-170/mt against SHFE 1406 zinc contract prices. #1 zinc prices were around RMB 14,640/mt. SHFE 1406 zinc contract prices opened at RMB 14,830/mt on Thursday, and leveled out. Traders stayed on the sidelines, but some smelters increased supply due to cash flow problems. Downstream buying interest was low as zinc prices lacked ability to rebound, but replenished stocks before the week’s end. Shuangyan and Huize branded #0 zinc prices were around RMB 14,680/mt, with RMB 14,670/mt for Yuguang and Qilin branded #0 zinc, and RMB 14,660/mt for Qinxin, Jiulong and Feilong branded #0 zinc.
 

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