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SMM Zinc Market Daily Review (2014-4-4)
Apr 8,2014 09:22CST
price review forecast
Source:SMM
SHFE 1406 zinc contract prices opened at RMB 14,830/mt on Thursday evening, and then fluctuated between RMB 14,825-14,845/mt.

SHANGHAI, Apr. 8 (SMM) – SHFE 1406 zinc contract prices opened at RMB 14,830/mt on Thursday evening, and then fluctuated between RMB 14,825-14,845/mt, closing at RMB 14,830/mt, up RMB 5/mt or 0.03%. Trading volumes decreased by 1,916 lots to 3,168 lots, and total positions increased by 252 lots to 72,304 lots. SHFE 1406 zinc contract prices opened at RMB 14,830/mt on Friday, then rose with LME zinc prices, touching RMB 14,865/mt at one point, and closing the day at RMB 14,860/mt, up RMB 35/mt or 0.24%. Trading volumes decreased by 472 lots, to 16,626 lots, and total positions decreased by 2,426 lots, to 69,000 lots.

#0 zinc prices were between RMB 14,710-14,730/mt, with spot discounts between RMB 110-130/mt against SHFE 1406 zinc contract prices. #1 zinc prices were between RMB 14,670-14,680/mt. SHFE 1406 zinc contract prices opened at RMB 14,830/mt on Friday, and then fluctuated narrowly. Traders lacked interest in transactions before the holiday, and smelters were still unwilling to move goods, with some brands still in short supply, and imported zinc tight. Downstream enterprises replenished goods modestly, causing transactions to improve. Shuangyan branded #0 zinc prices were between RMB 14,720-14,730/mt, with RMB 14,710-14,720/mt for Yuguang, Qinxin and Feilong branded #0 zinc. Imported Spanish #0 zinc prices were between RMB 14,700-14,710/mt.

 

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