Spot Zinc Price Movement (2014-4-25)

SHANGHAI, Apr. 25 (SMM) – #0 zinc prices were between RMB 15,140-15,180/mt, with spot prices ranging from RMB 10/mt below or RMB 20/mt above SHFE 1407 zinc contract prices. #1 zinc prices were between RMB 15,120-15,130/mt. SHFE 1407 zinc contract prices plunged to RMB 15,140/mt during the first trading session on Friday. Shuangyan branded #0 zinc prices were around RMB 15,160/mt, with RMB 15,140-15,150/mt for other regular brands. During the second trading session, SHFE zinc prices edged up to RMB 15,165/mt, and spot prices rose in response, with RMB 15,170-15,180/mt for Shuangyan branded #0 zinc, and RMB 15,160-15,170/mt for Jiulong and Qinxin branded #0 zinc. Smelters were moving goods actively, and other cargo holders also released goods, causing spot supply tightness to ease. But downstream purchases were modest. Besides, market players are busing settling, leaving transactions muted.