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SMM Zinc Market Daily Review (2015-4-2)
Apr 3,2015 09:06CST
price review forecast
Source:SMM
SHFE 1506 zinc contract prices opened at RMB 15,925/mt Wednesday evening, then inched up to RMB 16,030/mt, and closed the day at RMB 16,025/mt, up RMB 70/mt or 0.44%.

SHANGHAI, Apr. 3 (SMM) – SHFE 1506 zinc contract prices opened at RMB 15,925/mt Wednesday evening, then inched up to RMB 16,030/mt, and closed the day at RMB 16,025/mt, up RMB 70/mt or 0.44%. SHFE 1506 zinc contract prices opened at RMB 16,025/mt on Thursday, and met resistance at the 60-day moving average, erasing some gains as a large number of longs left the market, which once dipped to RMB 15,960/mt and closed at RMB 16,000/mt, up RMB 45/mt or 0.28%. Trading volumes increased 17,294 to 102,918 lots, and total positions declined 1,730 to 124,770. SHFE 1506 zinc contract prices are expected to remain steady this evening.

#0 zinc prices were between RMB 15,880-15,910/mt, RMB 100-80/mt below SHFE 1506 zinc contract prices and RMB 130-90/mt below SHFE 1506 zinc contract prices. #1 zinc was traded between RMB 15,770-15,790/mt. SHFE 1506 zinc contract prices fluctuated between RMB 15,970-16,000/mt after opening, up RMB 40/mt. supply of common brands was tight, with prices with Shuangyan zinc prices narrowing to zero. Trading between traders increased on rising SHFE zinc price volatility, and downstream buyers purchased as needed. Nonetheless, trading improved. Shuangyan #0 zinc prices were RMB 15,900-15,910/mt, RMB 100-80/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, Qinxin and Qilin #0 zinc prices were RMB 15,880-15,900/mt, with spot discounts of RMB 100/mt against SHFE 1506 zinc contract prices. Tongguan, Haolong and Bailing #0 zinc prices were RMB 15,800-15,810/mt, with spot discounts of RMB 160-130/mt against SHFE 1506 zinc contract prices. SMC and AZ #0 zinc prices were RMB 15,840-15,860/mt, with spot discounts of RMB 130-120/mt against SHFE 1506 zinc contract prices. Indian #0 zinc prices were RMB 15,800-15,810/mt, with spot discounts of RMB 160/mt against SHFE 1506 zinc contract prices. SHFE 1506 zinc contract prices fluctuated narrowly in the afternoon, with discounts steady and transactions brisk.

 

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