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SMM Zinc Market Daily Review (2014-4-22)
Apr 23,2014 09:59CST
price review forecast
Source:SMM
SHFE 1407 zinc contract prices opened at RMB 15,075/mt on Monday evening, and then moved between RMB 15,050-15,065/mt。

SHANGHAI, Apr. 23 (SMM) – 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. SHFE 1407 zinc contract prices opened at RMB 15,055/mt on Tuesday, then dipped to RMB 15,040/mt, but rising in the afternoon to touch RMB 15,090/mt, and closing at RMB 15,070/mt, up RMB 10/mt or 0.07%. Trading volumes increased by 2,098 lots, to 12,682 lots, and total positions increased by 4,302 lots, to 68,784 lots.

#0 zinc prices were between RMB 15,050-15,070/mt, with spot premiums of RMB 0-10/mt against SHFE 1407 zinc contract prices. #1 zinc prices were between RMB 15,030-15,040/mt. SHFE 1407 zinc contract prices opened at RMB 15,060/mt on Tuesday, dipping to RMB 15,040/mt and then stabilizing around RMB 15,055/mt. supply in Shanghai remained tight, with smelters moving goods normally. Supply of some brands was limited due to ongoing maintenance at smelters, and traders were actively purchasing goods. Downstream caution increased due to continuously climbing zinc prices, with transactions mainly made among traders. Shuangyan branded #0 zinc prices were between RMB 15,050-15,070/mt, with RMB 15,050-15,060/mt for Jiulong and Qinxin branded #0 zinc, and RMB 15,050-15,070/mt for Yuguang branded #0 zinc.
 

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