SMM Zinc Market Daily Review (2015-4-24)

Published: Apr 27, 2015 10:29

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SHFE 1507 zinc contract dropped after starting Friday’s daytime trading and then stabilized at RMB 16,500/mt before ending at RMB 16,595/mt.

SHANGHAI, Apr. 27 (SMM) – SHFE 1507 zinc contract dropped after starting Friday’s daytime trading and then stabilized at RMB 16,500/mt before ending at RMB 16,595/mt, up RMB 10/mt. Trading volumes shed 34,994 lots and positions grew 1,886. The most active zinc contract is feeling greater resistance, but support at RMB 16,500/mt is solid.

Prices of #0 zinc were RMB 16,400-16,430/mt, with discounts of RMB 70-100/mt to SHFE 1506 zinc contract. #1 zinc traded at RMB 16,330-16,350/mt. Although smelters shipped out goods normally, supply of ordinary brands declined, narrowing its price gap with well-known brands. Some downstream buyers started building stocks for the May Day holiday.

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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