Spot Zinc Price Movement (2014-4-17)

SHANGHAI, Apr. 17 (SMM) – #0 zinc prices were between RMB 15,020-15,040/mt, with spot discounts between RMB 0-20/mt against SHFE 1406 zinc contract prices. #1 zinc prices were around RMB 15,010/mt. SHFE 1406 zinc contract prices opened at RMB 15,050/mt on Thursday, and then fluctuated around RMB 15,040/mt. Tight spot supply pushed up spot prices, with spot discounts level with Wednesday. Zinc prices continued to rise above RMB 15,000/mt, stimulating some traders to sell goods. But some cargo holders were unwilling to move goods due to firm prices. Downstream buying interest was low due to high zinc prices, but overall transactions improved, and mainly made among traders. Shuangyan branded #0 zinc prices were around RMB 15,040/mt, with RMB 15,030/mt for Jiulong, Qinxin, Feilong, Yuguang and SMC branded #0 zinc.