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SMM Zinc Market Daily Review (2014-5-30)
Jun 3,2014 09:22CST
price review forecast
Source:SMM
SHFE 1408 zinc contract prices opened at RMB 15,105/mt last Thursday evening, then dropped to RMB 15,100/mt before rising, and closing at RMB 15,135/mt, down RMB 50/mt or 0.33%.

SHANGHAI, Jun. 3 (SMM) – SHFE 1408 zinc contract prices opened at RMB 15,105/mt last Thursday evening, then dropped to RMB 15,100/mt before rising, and closing at RMB 15,135/mt, down RMB 50/mt or 0.33%. SHFE 1408 zinc contract prices opened at RMB 15,140/mt on Friday, then hovered between RMB 15,120-15,170/mt due to muted transactions, and closing at RMB 15,150/mt, down RMB 35/mt or 0.23%. Trading volumes decreased by 7,610 lots, to 12,680 lots, and total positions increased by 636 lots, to 68,710 lots.
 
#0 zinc prices were between RMB 15,130-15,160/mt, with spot prices ranging from RMB 20/mt below to RMB 10/mt against SHFE 1408 zinc contract prices. #1 zinc prices were between RMB 15,100-15,120/mt, with Shuangyan branded #0 zinc between RMB 15,140-15,160/mt. Regular brands #0 zinc prices were between RMB 15,130-15,150/mt, with RMB 15,190-15,200/mt for Yuguang, Qinxin and Jiulong branded #0 zinc. AZ branded #0 zinc prices were RMB 15,120-15,130/mt. SHFE 1408 zinc contract prices fluctuated around RMB 15,165/mt during the first trading session, with spot discounts between RMB 0-20/mt against SHFE 1408 zinc contract prices. SHFE 1408 zinc contract prices inched down to RMB 15,125/mt in the second trading session, with spot prices firm and RMB 0-10/mt above SHFE 1408 zinc contract prices. Traders lacked interest in operations as they were busy settling accounts, while downstream buyers also had built stocks, leaving transactions muted. SHFE 1408 zinc contract prices fell slightly in the afternoon, but spot prices remained largely unchanged, with transactions quiet as downstream buyers mostly left the market before the holiday. Shuangyan branded #0 zinc prices were around RMB 15,160/mt, and regular brands #0 zinc prices were around RMB 15,150/mt.
 

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