SHANGHAI, Jun. 20 (SMM) – SHFE 1408 zinc contract prices opened at RMB 15,540/mt on Wednesday evening, then touched as high as RMB 15,580/mt boosted by LME zinc prices, and closing at RMB 15,545/mt, up RMB 30/mt or 0.19%. SHFE 1408 zinc contract prices opened at RMB 15,550/mt on Thursday, and dipped to an intraday low of RMB 15,455/mt as a large number of longs left the market. But boosted by LME zinc prices, SHFE 1408 zinc contract prices rallied and closed at RMB 15,525/mt, up RMB 10/mt or 0.06%. Trading volumes decreased by 22,858 lots, to 32,522 lots, and total positions decreased by 5,304 lots, to 101,024 lots.
#0 zinc prices were between RMB 15,400-15,430/mt, with spot discounts of RMB 50-80/mt against SHFE 1408 zinc contract prices. #1 zinc prices were around RMB 15,350/mt. Shuangyan branded #0 prices were between RMB 15,420-15,430/mt, and RMB 15,380-15,410/mt for Yuguang and Feilong branded #0 zinc and RMB 15,370/mt for AZ branded #0 zinc. Prices for other imported brands were between RMB 15,330-15,350/mt. SHFE 1408 zinc contract prices inched down after opening, then leveled out between RMB 15,470-15,490/mt. cargo holders were unwilling to sell as zinc prices dropped slightly, and narrowing spot discounts also depressed investors. Imported zinc was ample and cheap. SHFE 1408 zinc contract prices rose slightly in the afternoon, and #0 zinc prices were between RMB 15,410-15,440/mt.