Spot Zinc Price Movement (2014-4-18)

SHANGHAI, Apr. 18 (SMM) – #0 zinc prices were between RMB 15,000-15,020/mt, with spot discounts expanding to RMB 20-60/mt against SHFE 1407 zinc contract prices. #1 zinc prices were around RMB 14,980/mt. SHFE 1406 zinc contract prices opened at RMB 15,075/mt on Friday, and then fell to fluctuate around RMB 15,040/mt. Spot supply was tight since some smelters conducted maintenance and held back goods. SHFE zinc prices fell after opening, but continuously rising spot prices stimulated traders to sell goods. Nevertheless, they held back goods again due to tight supply. Spot prices edged up as SHFE zinc prices stabilized, with regular brand #0 zinc prices returning above RMB 15,000/mt. Falling zinc prices prompted some downstream buyers to replenish stocks, causing trading to improve. Shuangyan branded #0 zinc prices were between RMB 15,000-15,020/mt, with RMB 15,000/mt for Baohui, Qinxin, Yuguang, Jiulong and SMC branded #0 zinc.