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SMM Zinc Market Daily Review (2014-4-3)
Apr 4,2014 09:38CST
price review forecast
Source:SMM
SHFE 1406 zinc contract prices opened high at RMB 14,875/mt on Wednesday evening, and then dropped, closing at RMB 14,820/mt, up RMB 15/mt or 0.1%.

SHANGHAI, Apr. 4 (SMM) – SHFE 1406 zinc contract prices opened high at RMB 14,875/mt on Wednesday evening, and then dropped, closing at RMB 14,820/mt, up RMB 15/mt or 0.1%. Trading volumes decreased by 4,560 lots to 5,084 lots, and total positions decreased by 108 lots to 73,714 lots. SHFE 1406 zinc contract prices opened at RMB 14,820/mt on Thursday, then moved between RMB 14,805-14,830/mt, and closing the day at RMB 14,845/mt, up RMB 40/mt or 0.27%. Trading volumes decreased by 6,592 lots, to 12,014 lots, and total positions decreased by 1,770 lots, to 72,052 lots.

#0 zinc prices were between RMB 14,690-14,710/mt, with spot discounts between RMB 100-130/mt against SHFE 1406 zinc contract prices. #1 zinc prices were around RMB 14,650/mt. SHFE 1406 zinc contract prices opened at RMB 14,825/mt on Thursday, and then leveled out. Traders lacked interest in transactions, and smelters were still unwilling to move goods, with some brands still in short supply. Despite cash flow tightness eased, downstream enterprises lacked buying interest, with transactions muted. Shuangyan branded #0 zinc prices were around RMB 14,710/mt, with RMB 14,700/mt for Yuguang branded #0 zinc, RMB 14,690/mt for Qinxin, Jiulong and Feilong branded #0 zinc. Imported Spanish and Belgian #0 zinc prices were around RMB 14,680/mt.

 

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