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SMM Zinc Market Morning Review (2014-4-22)
Apr 22,2014 09:38CST
price review forecast
Source:SMM
The LME market was closed overnight due to the Easter holiday, and will reopen today.

SHANGHAI, Apr. 22 (SMM) – The LME market was closed overnight due to the Easter holiday, and will reopen today.

SHFE 1407 zinc contract prices opened at RMB 15,075/mt on Monday evening, and then moved between RMB 15,050-15,065/mt, with the lack of directions from the LME market, and closing at RMB 15,065/mt, up RMB 5/mt or 0.03%. Trading volumes decreased by 218 lots to 1,384 lots, and total positions decreased by 200 lots to 64,282 lots.

The LME market reopened, and the market is awaiting HSBC's PMI for China. LME zinc prices will fluctuate between USD 2,050-2,075/mt, and SHFE 1407 zinc contract prices will hover between RMB 15,020-15,100/mt, with spot discounts of RMB 10-40/mt against SHFE 1407 zinc contract prices.
 

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