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SMM Zinc Market Daily Review (2014-6-25)
Jun 26,2014 09:18CST
price review forecast
Source:SMM
SHFE 1409 zinc contract prices opened at RMB 15,710/mt on Tuesday evening, then fell to RMB 15,675/mt, and closing at RMB 15,675/mt, down RMB 45/mt or 0.29%.

SHANGHAI, Jun. 26 (SMM) – SHFE 1409 zinc contract prices opened at RMB 15,710/mt on Tuesday evening, then fell to RMB 15,675/mt, and closing at RMB 15,675/mt, down RMB 45/mt or 0.29%. SHFE 1409 zinc contract prices opened at RMB 15,670/mt on Wednesday, then fell along with LME zinc prices and as a large number of longs left the market, dropping to as low as RMB 15,615/mt. in the afternoon, SHFE 1409 zinc contract prices rose since LME zinc prices strengthened, and closed at RMB 15,715/mt, down RMB 5/mt or 0.03%. Trading volumes during day trading decreased by 15,978 lots, to 47,414 lots, and trading volumes for both day and night sessions decreased by 33,174 lots to 66,500 lots, and total positions increased by 8,094 lots, to 136,838 lots. Total positions of SHFE zinc were up 18,712 lots to 99,674 lots.
 
#0 zinc prices were between RMB 15,520-15,550/mt, with spot discounts of RMB 110-90/mt against SHFE 1409 zinc contract prices. #1 zinc prices were between RMB 15,480-15,500/mt. Shuangyan branded #0 prices were between RMB 15,540-15,550/mt, and RMB 15,520-15,530/mt for Yuguang branded #0 zinc. Prices for Huize and Dongling brands were RMB 15,570/mt, and RMB 15,510-15,520/mt for Baohui branded zinc. Imported zinc supply decreased, with prices firm, and RMB 15,540/mt for AZ brand and RMB 15,520/mt for other imported brands. SHFE 1409 zinc contract prices fluctuated around RMB 15,670/mt after opening, with spot discounts of #0 zinc narrowing to RMB 130-100/mt and cargo holders increasing supply. Supply of Shuangyan branded zinc was ample, with prices between RMB 15,560-15,570/mt. Prices for Yuguang and Qinxin branded #0 zinc were around RMB 15,550/mt. SHFE 1409 zinc contract prices fell during the second trading session, with spot discounts narrowing to RMB 110-90/mt. Supply of Yuguang branded zinc was tight, and imported zinc supply also decreased. But some arbitrage traders released some goods. Traders busy settling lacked interest in operations, and downstream buyers also took a wait-and-see attitude, leaving overall transactions muted. SHFE 1409 zinc contract prices rose in the afternoon, with #0 zinc prices between RMB 15,540-15,570/mt.
 

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