Spot Zinc Price Movement (2014-4-29)

SHANGHAI, Apr. 29 (SMM) – #0 zinc prices were between RMB 15,130-15,160/mt, with spot prices ranging from RMB 10/mt below to RMB 20/mt above SHFE 1407 zinc contract prices. #1 zinc prices were between RMB 15,110-15,120/mt. SHFE 1407 zinc contract prices fluctuated around RMB 15,135/mt after opening, and spot premiums fell slightly since spot prices dropped on increasing supply. Smelters were actively moving goods at highs, and other cargo holders also increased supply, causing supply tightness to ease. But traders lacked interest in operations before the release of a series of macroeconomic news and the upcoming May Day holiday. Downstream buyers lacked interest in replenishing goods before the holiday. Shuangyan branded #0 zinc prices were between RMB 15,150-15,160/mt, with RMB 15,140/mt for Qinxin and Yuguang branded #0 zinc. Jiulong and Feilong branded #0 zinc prices were around 15,130/mt. AZ branded #0 zinc prices were between RMB 15,110-15,120/mt.