Home / Metal News / Nickel / SMM Zinc Market Daily Review (2014-10-14)
SMM Zinc Market Daily Review (2014-10-14)
Oct 15,2014 09:30CST
price review forecast
Source:SMM
SHFE 1412 zinc contract prices opened at RMB 16,830/mt overnight, and rose to RMB 16,800-16,850/mt after briefly dipping to the 5-day moving average, and closed at RMB 16,825/mt.

SHANGHAI, Oct. 15 (SMM) – SHFE 1412 zinc contract prices opened at RMB 16,830/mt overnight, and rose to RMB 16,800-16,850/mt after briefly dipping to the 5-day moving average, and closed at RMB 16,825/mt, up RMB 95/mt or 0.57%. Trading volumes decreased 92,352 to 137,852 lots, and total positions increased by 5,672 to 172,846 lots. SHFE 1412 zinc contract prices opened at RMB 16,820/mt October 14, then fluctuated between RMB 16,780-16,830/mt, and closed at RMB 16,805/mt, up RMB 75/mt or 0.75%. Trading volumes decreased 131,924, to 272,048 lots, and total positions were down 6,760 lots to 160,414 lots. SHFE 1412 zinc contract prices are expected to fluctuate around RMB 16,800/mt.

#0 zinc prices were between RMB 16,980-17,050/mt, with spot premiums of RMB 180-240/mt against SHFE 1412 zinc contract prices. #1 zinc prices were between RMB 16,940-16,950/mt. SHFE 1412 zinc contract prices fluctuated around RMB 16,800/mt after opening, with spot premiums between RMB 180-240/mt. Qilin zinc supply was ample as cargo holders sold actively, but Yuguang and Shuangyan zinc was in tight supply, keeping spot premiums firm and price spreads to expand. SHFE spot-month zinc contract prices in Guangdong were RMB 70-80/mt above spot prices. Traders purchased goods from Guangdong to sell Qilin zinc in Shanghai, leaving trading brisk. Downstream lacked buying interest as zinc prices stayed above RMB 17,000/mt. Shuangyan branded #0 zinc prices were RMB 17,040-17,050/mt, and prices for Yuguang were RMB 17,020-17,040/mt. Qilin and Tiefeng zinc prices were RMB 16,980-17,000/mt.  a small quantity of YP and AZ zinc was available, with quotes RMB 200/mt above SHFE 1412 zinc contract prices. Spot premiums remained largely unchanged as SHFE 1412 zinc contracts consolidated in the afternoon, keeping traders on the sidelines.
 

zinc prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news