Home / Metal News / Precious Metals / SMM Zinc Market Daily Review (2014-4-16)
SMM Zinc Market Daily Review (2014-4-16)
Apr 17,2014 09:27CST
price review forecast
Source:SMM
SHFE 1406 zinc contract prices opened low at RMB 14,920/mt on Monday evening.

SHANGHAI, Apr. 17 (SMM) – SHFE 1406 zinc contract prices opened low at RMB 14,920/mt on Monday evening. But as LME zinc prices clawed back losses, SHFE 1406 zinc contract prices were boosted and closed at RMB 14,950/mt, down RMB 45/mt or 0.3%. Trading volumes increased by 212 lots to 6,014 lots, and total positions decreased by 288 lots to 57,718 lots.

SHFE 1406 zinc contract prices opened at RMB 14,955/mt on Wednesday, then fluctuated between RMB 14,950-14,970/mt during Asian trading hours as LME zinc price volatility was low, touching RMB 15,000/mt near the end of trading, and closing at RMB 14,990/mt, down RMB 5/mt or 0.03%. Trading volumes decreased by 2,860 lots, to 6,616 lots, and total positions decreased by 1,368 lots, to 56,350 lots.

#0 zinc prices were between RMB 14,940-14,960/mt, with spot discounts between RMB 0-20/mt against SHFE 1406 zinc contract prices. #1 zinc prices were around RMB 14,920/mt. SHFE 1406 zinc contract prices opened at RMB 14,955/mt on Wednesday, and then fluctuated around opening price. Tight spot supply supported spot prices, causing spot discounts to narrow further. High zinc prices stimulate some smelters to sell goods, while narrowing spot discounts prompted some arbitrage traders to move goods. But supply tightness did not ease due to strong buying interest of traders. Downstream buying interest was low as zinc price approached RMB 15,000/mt. Shuangyan branded #0 zinc prices were between RMB 14,950-14,960/mt, with RMB 14,940-14,950/mt for Jiulong, Qinxin and Feilong branded #0 zinc, RMB 14950/mt for Yuguang branded #0 zinc and RMB 14,930-14,940/mt for Baohui branded #0 zinc. SMC #0 zinc prices were around RMB 14,950/mt.

 

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