SHANGHAI, Apr. 15 (SMM) – LME zinc prices opened at USD 2,026/mt overnight, and edged up to USD 2050/mt despite the lack of positive news. During US trading hours, US March retail sales rose 1.1%, the largest growth in one and 1/2 years. When combined with rebounding US stocks, LME zinc prices fluctuated at relatively high levels, and closing at USD 2,052.8/mt, up USD 25.3/mt or 1.25%. Trading volumes decreased by 1,810 lots to 6,888 lots, and total positions increased by 9,587 lots to 310,405 lots. LME zinc inventories fell by 3,300 mt to 811,225 mt.

SHFE 1406 zinc contract prices opened high at RMB 15,000/mt on Monday evening, touching RMB 15,030/mt, and finally closing at RMB 15,000/mt, up RMB 50/mt or 0.33%. Trading volumes decreased by 3,660 lots to 5,802 lots, and total positions increased by 146 lots to 59,588 lots.

Inflation rate in the UK and US as well as New York Fed's manufacturing data in April will be announced today. LME zinc prices are expected to move between USD 2,040-2,065/mt today, and SHFE 1406 zinc contract prices will hover between RMB 14,950-15,050/mt, with spot discounts of RMB 40-70/mt against SHFE 1406 zinc contract prices.