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SMM Zinc Market Daily Review (2015-3-31)
Apr 1,2015 09:12CST
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Source:SMM
SHFE 1506 zinc contract prices opened at RMB 16,030/mt Monday evening, then rose to RMB 16,090/mt, and closed the day at RMB 16,065/mt, up RMB 90/mt or 0.56%.

SHANGHAI, Apr. 1 (SMM) – SHFE 1506 zinc contract prices opened at RMB 16,030/mt Monday evening, then rose to RMB 16,090/mt, and closed the day at RMB 16,065/mt, up RMB 90/mt or 0.56%. Trading volumes increased 20,296 to 46,392 lots, and total positions were up 1,732 to 123,690. SHFE 1506 zinc contract prices opened at RMB 16,080/mt on Tuesday, then rolled back most early gains, and closed the day at RMB 15,985/mt, up RMB 10/mt or 0.06%. Trading volumes increased 37,558 to 115,234 lots, and total positions grew 2,594 to 124,552. SHFE 1506 zinc contract prices face downward pressure this evening.

#0 zinc prices were between RMB 15,910-15,940/mt, RMB 100-60/mt below SHFE 1505 zinc contract prices and RMB 130-90/mt below SHFE 1506 zinc contract prices. #1 zinc was traded between RMB 15,800-15,820/mt. SHFE 1506 zinc contract prices were up RMB 70/mt. Spot zinc prices, however, were weak, with spot discounts widening. Downstream buying interest was low due to quarter and month-end cash tightness, leaving overall transactions muted. Traders were also reticent. Shuangyan and Huize #0 zinc prices were RMB 15,930-15,940/mt, RMB 80-60/mt below SHFE 1505 zinc contract prices. Yuguang #0 zinc prices were RMB 15,920-15,930/mt, with spot discounts of RMB 90-60/mt against SHFE 1505 zinc contract prices. Qinxin and Qilin #0 zinc prices were RMB 15,900-15,910/mt, with spot discounts of RMB 100-80/mt against SHFE 1505 zinc contract prices. SMC #0 zinc prices were RMB 15,880-15,900/mt, with spot discounts of RMB 120/mt against SHFE 1505 zinc contract prices. Indian and Namibia’s #0 zinc prices were RMB 15,810-15,860/mt, with discounts of RMB 190-150/mt against SHFE 1505 zinc contract prices. SHFE 1506 zinc contract prices weakened in the afternoon. Shuangyan #0 zinc prices fell to as low as RMB 15,900/mt at one point, with discounts of RMB 90/mt against SHFE 1505 zinc contract prices, attracting some bargain hunters to enter the market.
 

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