SHANGHAI, Jun. 6 (SMM) – SHFE 1408 zinc contract prices opened at RMB 15,150/mt, and closing at RMB 15,170/mt, down RMB 10/mt or 0.07%. SHFE 1408 zinc contract prices opened at RMB 15,170/mt on Thursday, and were dragged down by LME zinc prices to RMB 15,160/mt. As LME zinc prices rebounded in the afternoon, SHFE 1408 zinc contract prices rose, and closing at RMB 15,195/mt, up RMB 15/mt or 0.1%. Trading volumes increased by 894 lots, to 12,248 lots, and total positions increased by 1,030 lots, to 73,798 lots.
#0 zinc prices were between RMB 15,150-15,170/mt, with spot discounts of RMB 0-20/mt against SHFE 1408 zinc contract prices. #1 zinc prices were between RMB 15,120-15,130/mt. SHFE zinc prices hovered around RMB 15,175/mt, depressing trader interest in operations. Continuously falling zinc prices kept some cargo holders and smelters unwilling to sell goods. But supply was sufficient due to cash flow tightness, while downstream buying interest was low. Shuangyan branded #0 zinc prices were between RMB 15,170-15,175/mt, with RMB 15,160/mt for Yuguang, Qinxin and Feilong branded #0 zinc. AZ and Belgian branded #0 zinc prices were around RMB 15,130/mt, with some trading made at RMB 15,120/mt. SHFE 1408 zinc contract prices edged up in the afternoon, with #0 zinc prices between RMB 15,150-15,170/mt.