SMM Zinc Market Daily Review (2015-2-25)

Published: Feb 26, 2015 08:53

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The most active SHFE 1505 zinc contract started sharply lower at RMB 16,055/mt and then fell further to RMB 15,980/mt on Wednesday.

SHANGHAI, Feb. 26 (SMM) – The most active SHFE 1505 zinc contract started sharply lower at RMB 16,055/mt and then fell further to RMB 15,980/mt on Wednesday. The price of the contract, however, rebounded above RMB 16,000/mt afterwards and closed down RMB 310/mt, or 1.89% at RMB 16,060/mt. Trading volumes for the most active contract tumbled 25,962 lots to 68,062 lots, while positions added 13,120 to 98,764.

#0 zinc ingot traded at RMB 16,190-16,220/mt, a RMB 100-120/mt premium to the most active SHFE 1504 zinc contract, while #1 zinc ingot sold for RMB 16,150-16,170/mt in Shanghai on Wednesday. Some traders returned to the market, but trading was muted in the first trading day after the end of the Chinese New Year holiday. Shuangyan branded #0 zinc prices were RMB 16,200-16,220/mt, a RMB 110-130/mt premium to the most active contract. Yuguang, Qilin and Qinxin branded #0 zinc was offered at about a RMB 100/mt premium. Quotations were at a RMB 60/mt premium for SMC and KZ branded #0 zinc, and on par with the most active contract for #0 zinc from Peru and the Netherlands.

SHFE zinc prices spot zinc prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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