Spot Zinc Trading Improves Slightly in Shanghai (Feb. 26, 2015)

SHANGHAI, Feb. 26 (SMM) – #0 zinc ingot traded at RMB 16,120-16,160/mt in Shanghai on Thursday, a RMB 80-120/mt premium to the SHFE 1504 zinc contract. #1 zinc ingot sold for RMB 16,070-16,080/mt. The SHFE 1504 zinc contract rose to RMB 16,020-16,040/mt, some RMB 100/mt below Wednesday, and rose sharply to around RMB 16,080/mt afterwards. Some smelters were reluctant to sell at low prices, but most rushed to sell. Many traders have returned to the market, with trading improving slightly. Only a small number of downstream producers replenished stocks since most of them remained closed. Huize and Shuangyan branded #0 zinc traded at RMB 16,150-16,160/mt, a RMB 110-120/mt premium. Yuguang branded #0 zinc traded at RMB 16,140-16,150/mt, a RMB 100-110/mt premium. Qinxin and Qilin branded #0 zinc traded at RMB 16,120-16,140/mt, a RMB 80-100/mt premium. SMC and KZ branded #0 zinc traded at RMB 16,070-16,080/mt, a RMB 40-50/mt premium. #0 zinc from Namibia, Peru and India traded at RMB 16,050-16,060/mt, a RMB 10-20/mt premium.