Spot Zinc Price Movement (2014-4-15)

SHANGHAI, Apr. 15 (SMM) – #0 zinc prices were between RMB 14,950-14,970/mt, with spot discounts between RMB 10-40/mt against SHFE 1406 zinc contract prices. #1 zinc prices were around RMB 14,920/mt. SHFE 1406 zinc contract prices opened at RMB 15,020/mt on Tuesday, and then fluctuated between RMB 14,990-15,000/mt. Spot prices rose in response, with quotes for Shuangyan brand between RMB 14,960-14,970/mt. SHFE base metals prices dropped after the first trading session, and SHFE zinc prices were weighed down as a large number of longs left the market, dipping to RMB 14,980/mt. High spot quotes were down, but mainstream prices remained largely unchanged, with spot discounts narrowing to RMB 10-40/mt. Supply of some brands was tight, and downstream buying interest was depressed due to high prices, but purchases were brisk due to the high demand season for zinc.  Shuangyan branded #0 zinc prices were between RMB 14,950-14,960/mt, with RMB 14,940-14,950/mt for Baohui branded #0 zinc, and RMB 14,950/mt for Yuguang, Jiulong, Qinxin and Feilong branded #0 zinc.