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SMM Zinc Market Morning Review (2014-10-28)
Oct 28,2014 09:24CST
price review forecast
Source:SMM
LME zinc prices opened at USD 2,252/mt, then fell to USD 2,239/mt before rallying to USD 2,250-2,260/mt, and closing at USD 2,257/mt.

SHANGHAI, Oct. 28 (SMM) – LME zinc prices opened at USD 2,252/mt, then fell to USD 2,239/mt before rallying to USD 2,250-2,260/mt, and closing at USD 2,257/mt, up USD 1/mt or 0.04%. Both trading volumes and total positions decreased.

SHFE 1412 zinc contract prices opened at RMB 16,615/mt on Monday, then falling to RMB 16,565-16,600/mt, and closing at RMB 16,560/mt, down RMB 25/mt or 0.15%. Trading volumes were down 79,382 to 64,176 lots, and total positions rose 528 to 133,356 lots.

Profit at China's large industry enterprises in September and US major economic indicators are scheduled for release today, which are expected to be mixed. When combined with the upcoming Fed's interest rate decision, LME zinc prices will fluctuate between USD 2,245-2,275/mt today, and SHFE 1412 zinc contract prices will move between RMB 16,530-16,630/mt, with spot premiums between RMB 280-320/mt against SHFE 1412 zinc contract prices.
 

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