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SMM Zinc Weekly Price Review and Forecast (Aug. 11-15, 2014)
Aug 11, 2014 16:58CST
Source:SMM
In China's spot markets, spot #0 zinc prices ranged from RMB 30/mt below to RMB 10/mt above SHFE 1410 zinc contract prices.

SHANGHAI, Aug. 11 (SMM) – In China's spot markets, spot #0 zinc prices ranged from RMB 30/mt below to RMB 10/mt above SHFE 1410 zinc contract prices. The number of zinc ingot brands on offer increased as arbitrage traders sold actively, but goods arrivals into Shanghai did not grow appreciably as a few smelters – including the producer of Yuguang zinc – that had recently resumed production opted not to ship to Shanghai. Downstream buyers continued to purchase only as needed against a general dearth of orders. Transaction volumes did improve, but most activity was between traders.

Spot supply is expected to increase this week as falling SHFE zinc prices will precipitate arbitrage traders releasing goods. Coupled with the approaching of delivery date, spot zinc prices will fall with SHFE zinc, with spot premiums against SHFE 1410 zinc expected to expand modestly to RMB 50/mt.

 

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