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SMM Zinc Market Daily Review (2015-4-24)
Apr 27,2015 10:29CST
SMM Comments
Source: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.

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

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