Spot Tightness Supports Premiums above 300 yuan/tonne in China Zinc Market

Nov 20, 2014 17:05

Source:SMM

Spot premiums in China’s domestic zinc market held above 300 yuan per tonne over SHFE three-month zinc contract, Shanghai Metals Market learns.

SHANGHAI, Nov. 20 (SMM) – Spot premiums in China’s domestic zinc market held above 300 yuan per tonne over SHFE three-month zinc contract, Shanghai Metals Market learns.

“The shortages and falling inventories helped SHFE zinc close up 0.09% at 16,685 yuan per tonne today,” said one analyst from Galaxy Futures.

Spot premiums in China’s zinc market climbed above 400 yuan per tonne for several times, the analyst added, due to tight supply.

The resistance at 17,000 yuan per tonne remains heavy, though.

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Spot Tightness Supports Premiums above 300 yuan/tonne in China Zinc Market

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