Home / Metal News / Aluminium / SMM Zinc Market Daily Review (2015-4-1)
SMM Zinc Market Daily Review (2015-4-1)
Apr 2,2015 09:20CST
price review forecast
Source:SMM
SHFE 1506 zinc contract prices opened at RMB 15,975/mt Tuesday evening, then fluctuated between RMB 15,910-15,980/mt, and closed the day at RMB 15,920/mt, down RMB 120/mt or 0.75%.

SHANGHAI, Apr. 2 (SMM) – SHFE 1506 zinc contract prices opened at RMB 15,975/mt Tuesday evening, then fluctuated between RMB 15,910-15,980/mt, and closed the day at RMB 15,920/mt, down RMB 120/mt or 0.75%. SHFE 1506 zinc contract prices opened at RMB 15,925/mt on Wednesday. China’s official PMI in March returned to a growth territory, but the market received little boost. As LME zinc prices rose, SHFE 1506 zinc contract prices surged to RMB 16,025/mt, then fell back and closed the day at RMB 15,975/mt, down RMB 65/mt or 0.41%. Trading volumes decreased 29,610 to 85,624 lots, and total positions grew 1,948 to 126,500. SHFE 1506 zinc contract prices are expected to remain steady this evening.

#0 zinc prices were between RMB 15,840-15,870/mt, RMB 120-90/mt below SHFE 1506 zinc contract prices and RMB 130-90/mt below SHFE 1506 zinc contract prices. #1 zinc was traded between RMB 15,750-15,760/mt. SHFE 1506 zinc contract prices were down RMB 90/mt. Spot trading improved some, causing spot discounts to narrow and price spread to contract. Some cargo holders sold modestly, and traders purchased at lower prices, with spot supply decreasing. Spot discounts narrowed from RMB 120/mt to RMB 100/mt. Downstream buying interest improved due to easing cash tightness. Shihong #0 zinc prices were RMB 15,860-15,880/mt, RMB 90-70/mt below SHFE 1506 zinc contract prices. Shuangyan #0 zinc prices were RMB 15,850-15,870/mt, RMB 100-90/mt below SHFE 1506 zinc contract prices. Yuguang #0 zinc prices were RMB 15,850-15,860/mt, with spot discounts of RMB 100/mt against SHFE 1506 zinc contract prices. Qinxin and Qilin #0 zinc prices were RMB 15,840-15,850/mt, with spot discounts of RMB 120-100/mt against SHFE 1506 zinc contract prices. SMC #0 zinc prices were RMB 15,820-15,840/mt, with spot discounts of RMB 130-100/mt against SHFE 1506 zinc contract prices. YP #0 zinc prices were RMB 15,790-15,800/mt, with spot discounts of RMB 160/mt against SHFE 1506 zinc contract prices. Indian #0 zinc prices were RMB 15,750-15,760/mt, with discounts of RMB 190/mt against SHFE 1506 zinc contract prices. SHFE 1506 zinc contract prices fluctuated around RMB 15,950/mt in the afternoon, and up at the end of trading, with discounts expanding RMB 30/mt against SHFE 1506 zinc contract prices.
 

zinc prices

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news