SHANGHAI, Apr. 14 (SMM) – SHFE 1406 zinc contract prices opened high at RMB 14,980/mt on Thursday evening, the highest in the night trading. LME zinc prices lacked ability to rise further during US trading hours, and SHFE 1406 zinc contract prices hovered between RMB 14,955-14,790/mt, and closing at RMB 14,970/mt, up RMB 55/mt or 0.37%.
SHFE 1406 zinc contract prices opened at RMB 14,960/mt on Friday, hovering between RMB 14,950-14,960/mt in the morning, and edging up with LME zinc prices, once touching 15,010/mt, and closing at RMB 15,000/mt, up RMB 85/mt or 0.57%. Trading volumes increased by 50 lots, to 12,980 lots, and total positions decreased by 1,498 lots, to 61,078 lots.
#0 zinc prices were between RMB 14,860-14,880/mt, with spot discounts between RMB 80-100/mt against SHFE 1406 zinc contract prices. #1 zinc prices were between RMB 14,830-14,840/mt. SHFE 1406 zinc contract prices opened at RMB 14,960/mt on Friday, and then leveled out. Some smelters conducted maintenance, while traders were holding back goods, causing supply tightness and keeping spot prices firm. Spot discounts narrowed by RMB 10-20/mt. Transactions improved as downstream enterprises replenished stocks at the week’s end. Shuangyan branded #0 zinc prices were between RMB 14,870-14,880/mt, with RMB 14,860-14,870/mt for Yuguang, Qinxin, Jiulong and Baohui branded #0 zinc.