Home / Metal News / Tin / SMM Zinc Market Morning Review (2014-4-14)
SMM Zinc Market Morning Review (2014-4-14)
Apr 14,2014 10:09CST
price review forecast
Source:SMM
LME zinc prices opened at USD 2,038.5/mt last Friday.

SHANGHAI, Apr. 14 (SMM) – LME zinc prices opened at USD 2,038.5/mt last Friday. China's March CPI rose 2.3% YoY, and PPI was down 2.3% YoY, the lowest in 1/2 year, but having little effect on LME zinc prices. LME zinc prices fluctuated between USD 2,038-2,042/mt. LME zinc price volatility was up during European and US trading hours, once touching USD 2,061.5/mt, but falling back during US trading hours, and closing at USD 2,027.5/mt, down USD 14.3/mt or 0.7%. Trading volumes increased by 1,267 lots to 8,698 lots, and total positions increased by 919 lots to 300,818 lots. LME zinc inventories fell by 3,375 mt to 814,525 mt.

SHFE 1406 zinc contract prices opened at RMB 14,970/mt last Friday evening, falling back after touching RMB 15000/mt, dragged down by LME zinc prices, dipping to RMB 14,915/mt, and finally closing at RMB 14,945/mt, down RMB 25/mt or 0.17%. Trading volumes increased by 4,852 lots to 9,462 lots, and total positions decreased by 76 lots to 61,102 lots.

Euro zone February industry output and US March retail sales will be announced today. US major economic data have been positive, but Ukraine crisis kept the market cautious. LME zinc prices are expected to move between USD 2,015-2,040/mt today, and SHFE 1406 zinc contract prices will hover between RMB 14,890-14,990/mt, with spot discounts of RMB 80-100/mt against SHFE 1406 zinc contract prices.
 

LME zinc prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news