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SMM Zinc Market Morning Review (2014-10-21)
Oct 21,2014 09:33CST
price review forecast
Source:SMM
Earnings reports from major US companies released yesterday were mixed.

SHANGHAI, Oct. 21 (SMM) – Earnings reports from major US companies released yesterday were mixed. China’s Q3 growth scheduled for release today is expected to fall to 7.2%, causing risk aversion to grow. LME zinc prices lost early gains and closed at USD 2,201/mt, down USD 51/mt or 2.26%. Trading volumes increased 979 to 11,938 lots, and total positions decreased 5,478 to 302,000 lots. LME zinc inventories fell 1,575 to 721,575 mt.

SHFE 1412 zinc contract prices opened lower at RMB 16,170/mt Monday evening, then fluctuated between RMB 16,160-16,265/mt, and closed at RMB 16,215/mt, down RMB 95/mt or 0.58%. Trading volumes decreased 59,088 to 220,340 lots, and total positions increased 8,622 to 157,268 lots.

LME zinc prices will fluctuate between USD 2,195-2,225/mt today, and SHFE 1412 zinc contract prices will move between RMB 16,170-16,270/mt, with spot premiums between RMB 320-370/mt against SHFE 1412 zinc contract prices.
 

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